What Counts as a Business Day? Why It Truly Matters
In a world driven by real-time market data and complex algorithmic infrastructure, one of the most overlooked — yet critical — aspects of global financial markets is the definition of business days for derivatives.
From interest rate swaps to cross-currency trades, regulatory frameworks like Dodd-Frank, EMIR, and MiFID II impose strict requirements around reporting deadlines, valuation cycles, and settlement conventions.
But here’s the challenge:
What happens when a U.S. swap is booked on a day that’s a holiday in Tokyo, but a regular business day in New York? Or vice versa?
🔍 That’s where Swaps Monitor steps in.
For decades, we have provided accurate, reliable, and manually verified holiday and market closure calendars, trusted by:
✔ Global swap dealers
✔ Compliance and reporting teams
✔ Legal departments drafting ISDA agreements
✔ Back-office systems vendors and central counterparties (CCPs)
Our flagship product — the Holiday Calendar — offers clear, authoritative guidance on when markets are open and which days count for valuation and clearing.
As cross-border derivatives grow in complexity, the demand for precision in calendar data increases exponentially. Many firms continue to rely on Swaps Monitor alongside industry giants — not because of size, but because of our unmatched clarity and reliability.
📌 In today’s regulatory environment, it’s not just about speed — it’s about knowing exactly when the clock starts ticking.
For more information, feel free to contact us at info@swapsmonitor.com.