6.1.2 Computation of Forward Dates
The application allows users to define forward dates in 2 ways: specification of fixed intervals and calendar selection of forward dates. If the forward dates have fixed intervals between them users can provide the fixed interval forward date parameters and the application will compute the actual forward dates. The process of specifying fixed interval forward date parameters is provided in section Run Management.
- The first forward date is calculated as follows:
Where,
As of Date : FIC MIS Date
First Forward Date Interval : Interval between the as of date and the first forward date specified by the user
- The subsequent forward dates are calculated as follows:
Where,
F + x : Each forward date subsequent to the first forward date
(F + x) – x : Previous forward date
x : Interval between each forward date that is, forward date frequency
This calculation is performed till the application achieves the number of forward dates specified by you this include the first forward date that is, (Number of Forward Dates – 1) times.
The forward date calculation process is illustrated below:
Table 5-1 Example 1
As of Date | January 30, 2015 |
First Forward Date Interval (in days) | 1 |
Forward Date Frequency | 1 month |
No. of Forward Calculations | 3 |
First Forward Date | January 30, 2015 +1 day = January 31, 2015 |
As of Date + First Forward Date Interval | |
Second Forward Date | January 31, 2015 + 1 month = February 28, 2015 |
First Forward Date + Forward Date Frequency | |
Third Forward Date | February 28, 2015 + 1 month = March 31, 2015 |
Second Forward Date + Forward Date Frequency |
Table 5-2 Example 2
As of Date | January 29, 2015 |
First Forward Date Interval (in days) | 1 |
Forward Date Frequency | 1 week |
No. of Forward Calculations | 3 |
First Forward Date | January 29, 2015 +1 day = January 30, 2015 |
As of Date + First Forward Date Interval | |
Second Forward Date | January 30, 2015 + 1 week = February 6, 2015 |
First Forward Date + Forward Date Frequency | |
Third Forward Date | February 6, 2015 + 1 week = February 13, 2015 |
Second Forward Date + Forward Date Frequency |