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Subject: Reformulation of Day Count Bases
We have a few open issues related to day count conventions. I went back to section 4.11.6 and found that it was still incomplete and rather difficult to reference cleanly from function definitions like YEARFRAC. So I took the same material and tried to formula it in a clearer way (at least to me). So I added a summary table at the start and then broke out each algorithm separately. I also clarified that we actually have two sets of algorithms, one for day counting, the other for determining the length of years. Finally I reformulated each algorithms as an explicit calculation. I think this is less ambiguous than prose. Please take a look and let me know if this is a preferable presentation of the basis conventions. If so, I'd like to them verify that these definitions are actually correct by going back to David's earlier findings. http://www.oasis-open.org/committees/download.php/39507/YEARFRAC.odt -Rob
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