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Starting in March, the sequence basically alternates 3, 2, 3, 2, 3, but every five months there are two 31-day months in a row (July–August and December–January). [1] The fraction 13/5 = 2.6 and the floor function have that effect; the denominator of 5 sets a period of 5 months. The overall function, , normalizes the result to reside in the ...
For example, September and December correspond, because 1 September falls on the same day as 1 December (as there are precisely thirteen 7-day weeks between the two dates). Months can only correspond if the number of days between their first days is divisible by 7, or in other words, if their first days are a whole number of weeks apart.
A perfect month or a rectangular month designates a month whose number of days is divisible by the number of days in a week and whose first day corresponds to the first day of the week. [ 1 ] [ 2 ] This causes the arrangement of the days of the month to resemble a rectangle.
For March, one can remember either Pi Day or "March 0", the latter referring to the day before March 1, i.e. the last day of February. For the months April through December, the even numbered months are covered by the double dates 4/4, 6/6, 8/8, 10/10, and 12/12, all of which fall on the doomsday.
Is the next coupon payment date, usually it is close to Date2. This would be the maturity date if there are no more interim payments to be made. Days(StartDate, EndDate) Function returning the number of days between StartDate and EndDate on a Julian basis (i.e., all days are counted). For instance, Days(15 October 2007, 15 November 2007 ...
Each month still has either 29 or 30 days, but due to the variable method of observations employed, there is usually no discernible order in the sequencing of 29- or 30-day month lengths. Traditionally, the first day of each month is the day (beginning at sunset) of the first sighting of the hilal (crescent moon) shortly after sunset.
If the spot date falls on the last business day of the month in the currency pair then the delivery date is defined by convention to be the last business day of the target month e.g. assuming all days are business days: if spot is at 30 April, a one-month time to expiry will make the delivery date 31 May. This is described as trading "end-end".
Previous business day: the payment date is rolled to the previous business day. Modified previous business day: the payment date is rolled to the previous business day unless doing so would cause the payment to be in the previous calendar month, in which case the payment date is rolled to the next business day. Many institutions have month-end ...