Holiday Calendar
A Holiday Calendar is a component which can be assigned to a Security to identify days that are considered holidays for that Security's Counterparty . It is important to identify these days because any payments that are to be
made or any resets that may be required with respect to this security, will
usually be done on the next following business day. For large transactions, a
difference of a few days can have a noticeable impact on the values of such
payments over time.
If a Security does not have a Holiday Calendar assigned to it, the default
Holiday Calendar set in the Application Defaults is used.
A Holiday Calendar is specified as a unique name and a collection of Holiday
components.
Holiday:
A Holiday component is specified as a date along with a name for the
corresponding holiday.