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.