Professional Documents
Culture Documents
Date
Date
DATE
Announcement date
Broken date
Call date
• A date before maturity, specified at issuance, when the issuer of a bond may retire
part of the bond for a specified call price.
Cock date
Date of invoice
• Indicates that the beginning of the credit period is the date on the invoice for the
purchase.
Date of payment
Date of record
• Date on which holders of record in a firm's stock ledger are designated as the
recipients of either dividends or stock rights.
• The date, set by the firm's directors, on which every person whose name is
recorded as a shareholder will, at a specified future time, receive a declared
dividend.
• The last date on which the recipient of a right must be the legal owner indicated in
the company's stock ledger.
Dated date
• Is the date from which interest accrues on a newly issued municipal security.
Dates convention
• Treating cash flows as being received on exact dates -date 0, date 1, and so forth -
as opposed to the end-of-year convention.
Declaration date
www.ftpall.com 3|Page
• The date on which a company's Board of Directors meet to announce the date and
amount of the next dividend payment. Once the payment has been authorized, it is
known as a Declared Dividend, and becomes a legal liability that must be paid.
• The date on which a firm's directors meet and announce the date and amount of
the next dividend.
Dividend date
• Is sometimes used to refer to the Date of Record for entitlement to the dividend or
the actual Payment Date.
• In an interest rate swap, the date the swap begins accruing interest.
• Is the day that a new issue begins trading in the secondary market. This marks the
transition from the initial issuance or Primary Market to the Aftermarket or Secondary
Market.
Ex date
Ex dividend date
• Also known as the Ex-Date. The first date on which a security is traded without
entitling the buyer to receive distributions previously declared. This is the date after
which the seller, and not the buyer, of a stock will be entitled to a recently
announced dividend. It is usually several business days before the record date, and
is indicated in newspaper listings with an x.
• The first day of trading when the seller, rather than the buyer, of a stock will be
entitled to the most recently announced dividend payment. This date set by the
NYSE (and generally followed on other US exchanges) is currently two business
days before the record date. A stock that has gone ex-dividend is marked with an x
www.ftpall.com 4|Page
Ex rights date
Expiration date
• The last day (in the case of American-style) or the only day (in the case of
European-style) on which an option may be exercised. For stock options, this date is
the Saturday immediately following the 3rd Friday of the expiration month; however,
Extension date
Fixed dates
• In the Euromarket the standard periods for which Euros are traded (1 month out to
a year out) are referred to as the fixed dates.
• In the Euromarket the standard periods for which Euros are traded (one month out
to a year) are referred to as the fixed dates.
• The date on which holders of record in a firm's stock ledger are designated as the
recipients of either dividends or stock rights. Also called date of record.
Invoice date
• Usually the date when goods are shipped. Payment dates are set relative to the
invoice date.
Ipo date
www.ftpall.com 5|Page
Maturity date
• The date on which a bond, mortgage, loan, or other debt security is due to be
repaid.
• The date on which a bond's Principal is repaid to the investor and interest
payments cease. See also: Par.
Notification date
Payable date
• Announced on the Declaration Date. The date on which the Dividend will be paid to
its entitled stockholders.
The date a dividend will be paid to entitled shareholders. This date is set by the
company on the declaration date.
Payment date
• The date on which each shareholder of record will be sent a check for the declared
dividend.
• The actual date on which the firm will mail the dividend payment to the holders of
record.
• With CMOs, final payment at the end of the estimated cash flow window.
Record date
• (1) Date by which a shareholder must officially own shares in order to be entitled to
a dividend. For example, a firm might declare a dividend on Nov 1, payable Dec 1 to
holders of record Nov 15. Once a trade is executed an investor becomes the owner
of record on settlement, which currently takes 5 business days for securities, and
one business day for mutual funds. Stocks trade ex-dividend the fourth day before
the record date, since the seller will still be the owner of record and is thus entitled to
the dividend. (2) The date that determines who is entitled to payment of principal and
interest due to be paid on a security. The record date for most MBSs is the last day
Reset date
• Is the designated time for the reset event to occur. This timing feature can be
monthly, quarterly, yearly or whatever is designed for the structure.
Settlement date
• The date on which trade is cleared by delivery of securities against funds. The
settlement data may be the trade date or a later date.
• For stocks, payment must be made by the third business day after the purchase.
This is the Settlement Date.
• Is the date of the financial satisfaction of a transaction. This satisfaction can include
payment and delivery of securities. In recent years, there has been progress towards
closing the gap between trade date and settlement date. Many back office systems
are primarily focused on settlements whereas front office systems are primarily
focused on trades or transactions. Here, too the gaps are narrowing with the
implementation of middle office software.
• The date on which payment is made to settle a trade. For stocks traded on US
exchanges, settlement is currently 3 business days after the trade. For mutual funds,
www.ftpall.com 7|Page
settlement usually occurs in the U.S.the day following the trade. In some regional
markets, foreign shares may require months to settle.
Trade date
• The date on which a transaction is initiated. The settlement date (the day cash and
the asset officially changes ownership) may be the trade date or a later date.
• In an interest rate swap, the date that the counterparties commit to the swap. Also,
the date on which a trade occurs. Trades generally settle (are paid for) 1-5 business
days after a trade date. With stocks, settlement is generally 3 business days after
the trade.
Value date
• In the market for Eurodollar deposits and foreign exchange, value date refers to the
delivery date of funds traded. Normally it is on spot transactions two days after a
transaction is agreed upon and the future date in the case of a forward foreign-
exchange trade.
• In the market for Eurodollar deposits and foreign exchange, value date refers to the
delivery date of funds traded. Normally it is on spot transactions two days after a
transaction is agreed upon and the future date in the case of a forward foreign
exchange trade.
• Is akin to Yield to Maturity but adjusts for a short life expectancy. It is the rate of
return which is measured by the current expected income stream relative to the
www.ftpall.com 8|Page
prevailing market price assuming that the asset is held until the exercise of the first
option or termination event. If the instrument is trading at a discount, then the yield to
call, option or event date, will be greater than the coupon rate. If the instrument is
trading at a premium, then the yield to call, option or event date, will be less than the
coupon rate.