FA-61330 / Bond day-count conventions / Member archive

Coupon period lookup for a settlement date: settlements before the first coupon are rejected as not issued · case 05

Trades in the first coupon period are refused.

Member previewVariant 5 · 3 implementations · 8 checks per implementation

Case contract

Inputs issue date, ascending coupon schedule (last = maturity) and settlement. Settlement before issue returns "not issued"; on or after maturity returns "matured". Otherwise return [period start, next coupon] where a settlement on a coupon date belongs to the following period and the first period starts at issue.

Why this case matters

Bond accrual and pricing systems depend on exact day-count arithmetic; a single-day error changes settlement cash.

One recorded failure

Sample boundary fixture

This sample comes from the broken implementation of a controlled reproducer.

Boundary fixture	Actual	Expected	Outcome
regression pre-issue guard 1	`"not issued"`	`[[2012, 11, 11], [2013, 4, 20]]`	Failed

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