How to handle holidays when computing T+2 date
How to handle holidays when computing T+2 date
Loading saved threads...
user2414208 · External communityPost link
External question — Personal Finance Stack Exchange
Author: user2414208
Original post: https://money.stackexchange.com/questions/150638
License: CC BY-SA 4.0 — https://creativecommons.org/licenses/by-sa/4.0/
Adaptation: HTML converted to plain text; contact email addresses removed.
I'm implementing an algorithm that finds the T+2 settlement date for FX transactions (from the trade date). I also got a number of examples from the business analysts to test my algorithm. As far as I'm aware, the T+2 date means the second business day from trade date, so for example if the trade was on 2022-06-16 Thursday, then T+2 is 2022-06-21 Tuesday (the first business day is 2022-06-17 Friday, Saturday and Sundays are not business days, 2022-06-20 Monday is holiday, not business day).
However, according to the examples I received, for 2022-06-17 Friday the T+2 date should be 2022-06-21 Tuesday - according to the business analyst, if settlement is not actually happening on a weekday, it doesn't matter if it's a holiday. This confuses me. I looked up a few T+2 definitions on the internet and they all mention business days, but haven't actually found an example with a holiday as the next weekday after trade date. Is the example I got wrong? Is there a publicly available calculator that computes the T+2 date, so I can verify my calculations?
Quote
Report
Post Reply
Quoted from Forex.com.bd-Editorial External question — Personal Finance Stack Exchange Author: user2414208 Source score (net votes, not local likes): 1 Original post: https://money.stackexchange.com/questions/150638 License: CC BY-SA 4.0 — https://creativecommons.org/licenses/by-sa/4.0/ Adaptation: HTML converted to plain text; contact email addresses removed. I'm implementing an algorithm that finds the T+2 settlement date for FX transactions (from the trade date). I also got a number of examples from the business analysts to test my algorithm. As far as I'm aware, the T+2 date means the second business day from trade date, so for example if the trade was on 2022-06-16 Thursday, then T+2 is 2022-06-21 Tuesday (the first business day is 2022-06-17 Friday, Saturday and Sundays are not business days, 2022-06-20 Monday is holiday, not business day). However, according to the examples I received, for 2022-06-17 Friday the T+2 date should be 2022-06-21 Tuesday - according to the business analyst, if settlement is not actually happening on a weekday, it doesn't matter if it's a holiday. This confuses me. I looked up a few T+2 definitions on the internet and they all mention business days, but haven't actually found an example with a holiday as the next weekday after trade date. Is the example I got wrong? Is there a publicly available calculator that computes the T+2 date, so I can verify my calculations?
Checking account access…