7.1.2 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 application computes the forward dates based on the fixed interval parameters specified as part of the Run Management window as follows:

1. 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.

2. 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:

Example 1:

Table 6-1 Forward date calculation

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

Example 2:

Table 6-2 Forward date calculation

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