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Money Market Function Parameters

The following table defines each of the parameters used in the various money market functions.

 

Parameter

Definition

 

Accrual Basis

The basis for determining accrued interest and the length of the discounting period. All money market instruments adopt an "actual" days in period convention, however the assumed number of days in a year can be either 360, 365, or actual.

Coupon Rate

Coupon rate of the instrument. Not applicable for discount money market instruments.

Dated Date

Date on which the instrument begins to accrue interest. Not applicable for discount money market instruments.

Maturity Date

Maturity date of the instrument.

Output Flag

Determines which output(s) the function is to return.

Price

Price per one hundred (PPH) of the instrument. If instrument pays a coupon, then this parameter is the clean price.

Principal

Redemption value of the instrument, paid at maturity.

Settlement Date

Valuation date of the instrument.

Yield

Redemption yield for the instrument.

Yield Type

Determines whether a yield or a discount rate is used when pricing the instrument.

 

 

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