Payment schedule

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The payment schedule of financial instruments defines the dates at which payments are made by one party to another on for example a bond or derivative. It can be either customised or parameterised.

Parameterised Schedule[edit]

The schedule is generated based on a set of rules and market conventions to define the frequencies of the payments.

These parameters include:

  • Payment Frequency (Annually, Semi Annually, Quarterly, Monthly, Weekly, Daily, Continuous)
  • Payment Day - Day of the month the payment is made
  • Date rolling - Rule used to adjust the payment date if the schedule date is not a Business Day
  • Start Date - Date of the first Payment
  • End Date - Also known as the Maturity date. The date of the last payment

Customised Schedule[edit]

The schedule consists of a series of dates that define exactly when payments will be made.