Learning Center

A significant part of financial calculus involves dealing with business day math. The SAFE TOOLBOXES® database comes with almost one hundred holidays calendars ready for use with the financial functions. The list of calendars is presented below:

#

Calendar Name

1

Argentina_Exchange

2

Australia

3

Brazil_Exchange

4

Brazil_Settlement

5

Canada_Settlement

6

Canada_Exchange

7

China

8

China_Exchange

9

CzechRepublic_Exchange

10

Denmark

11

Finland

12

Germany_Eurex

13

Germany_Frankfurt

14

Germany_Settlement

15

Germany_Xetra

16

Hong_Kong_Exchange

17

Hungary

18

Iceland_Exchange

19

India_Exchange

20

Indonesia_Exchange

21

Italy_Exchange

22

Italy_Settlement

23

Japan

24

Mexican_Exchange

25

NewZealand

26

Norway

27

Poland

28

Russia_Settlement

29

Singapore_Exchange

30

Slovakia_Exchange

31

SouthAfrica

32

SouthKorea_Exchange

33

Sweden

34

Switzerland

35

Taiwan_Exchange

36

Turkey

37

Ukraine_Exchange

38

UnitedKingdom_Exchange

39

UnitedKingdom_Metals

40

UnitedKingdom_Settlement

41

UnitedStates_GovernmentBond

42

UnitedStates_NERC

43

UnitedStates_NYSE

44

UnitedStates_Settlement

The usage of the calendars is made through one of the financial functions presented below:

# Function Name Function Description

1

sCalendarWeekdayHolidays

Returns the weekday holidays of selected calendar.

2

sExcelOptions_IsDate1904

Tells if Excel is set to 1904 date pattern.

3

sBusinessDaysBetween

Returns the number of business days between two dates using the calendar selected in the Financial Toolbox.

4

sIsBusinessDay

Tells if the date is a business day.

5

sSequenceOfBusinessDaysSince

Returns a sequence of business days since the inputted date.

6

sSequenceOfBusinessDaysBetween

Returns a sequence of business days between two inputted dates.

7

sSequenceOfFirstBusinessDayInMonth

Returns a sequence of the first business day in a month.

8

sSequenceOfFirstBusinessDayOnOrAfterDayN

Returns a monthly sequence using the first business day that occurs on or after the inputted day of the month.

9

sSequenceOfFirstBusinessDayOnOrBeforeDayN

Returns a monthly sequence using the first business day that occurs on or before the inputted day of the month.

10

sSequenceOfFirstBusinessDayInQuarter

Returns a sequence of first business day in the quarter.

11

sSequenceOfFirstBusinessDayInYear

Returns a sequence of first business day in the year.

12

sSequenceOfLastBusinessDayInMonth

Returns a sequence of last business day in the month.

13

sSequenceOfLastBusinessDayInQuarter

Returns a sequence of last business day in the quarter.

14

sSequenceOfLastBusinessDayInYear

Returns a sequence of last business day in the year.

15

sBusinessDaysAfter

Returns the business day that occurs after a number of business days from a reference date.

To use a calendar function you should first select the desired calendar in the “Business days math” group, located at the bottom of the Financial Toolbox tab, and then inserting the function you want.

The table below illustrates some usages of the business days functions in SAFE for the New York Stock Exchange calendar. Those functions can be inserted using the "Functions" option of the Financial Toolbox tab.

A

B

C

D

E

1

Business day math examples

 

 

 

 

2

 

 

 

 

 

3

Start date

1/2/2015

 

 

 

4

End date

1/13/2015

 

 

 

5

Business Days Between

7

=sBusinessDaysBetween($B$3,$B$4)

 

 

6

Business Days Between (Excel)

8

=NETWORKDAYS(B3,B4,B19:C19)

 

 

7

Is business day?

TRUE

=sIsBusinessDay($B$3)

 

 

8

Sequence

1/2/2015

={sSequenceOfBusinessDaysBetween($B$3,$B$4,TRUE)}

 

 

9

 

1/5/2015

 

 

 

10

 

1/6/2015

 

 

 

11

 

1/7/2015

 

 

 

12

 

1/8/2015

 

 

 

13

 

1/9/2015

 

 

 

14

 

1/12/2015

 

 

 

15

 

1/13/2015

 

 

 

16

Calendar name

United States (NYSE)

 

 

 

17

Start date

1/1/2015

 

 

 

18

End date

1/31/2015

 

 

 

19

Weekday holidays

1/1/2015

1/19/2015

={sCalendarWeekdayHolidays($B$16,$B$17,$B$18)}

 

20

 

 

 

 

 

 

 

 

 

 

Please note the difference between the Excel function for business days on cell B6 above and the SAFE TOOLBOXES® function on cell B5. This is because SAFE TOOLBOXES® follows the financial convention that between two consecutive business days there is only one day that bears interest.

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