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From: Hurd, Matthew (hurdm_at_[hidden])
Date: 2004-04-20 17:11:06

> Jeff Garland
> > Cyrille Dupuydauby wrote
> > Totally agree with that, business related apps need
> holidays and business
> > days. But holidays determination should be easily localizable.
> It isn't just by locale, the application needs to determine
> holidays. For
> example, while there are some holidays in the US that
> everyone agrees on, but
> lots of companies use a couple floating holidays every year.
> They typically
> will tack one say a Friday after a July 4th on a Thursday to
> give employees a
> 4 day weekend. So any calculation of business days needs to
> be capable of
> handling these application specific cases.

Yep. And just to emphasise the point you just made... Some
jurisdications might have a business day with respect to some activity
but not others. For example, an exchange might have a trading day but
not a settlement day. A foreign exchange contract might be written in
NY effective on a Sydney holiday but the settlement date might depend on
the union of holidays between Sydney and NY.

All this indicates is that a calendar can be completely arbitrary and
that different calendars can apply to the same business at the same
point in time for the same jurisdiction for different parts of the same
transaction. Like me, the world has warts ;-)


Matt Hurd.

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