Fixed-Reset Issues Added to HIMIPref™

As promised, Fixed-Reset issues have been added to the HIMIPref™ database.

Additionally, a new HIMIPref™ sub-index has been added, the Fixed-Reset Index.

Minor, but annoying programming changes were required in order to add these issues. Each Floating-Rate issue requires what is currently a hard-coded schedule, specifying the base index to be used for the issues and the calculations required to obtain the projected floating-rate. This has been an easy matter in the past, since there have not been many new floaters added and since those that have been added have fit comfortably into extant classifications (e.g., Ratchet Rate, Canada Prime, max 100% of index, min 50% of index). Fixed-Resets, however, have a spread specified in terms of basis points; in order to specify the future floating rate for the current ten issues, nine different spreads neede to be hard coded.

Therefore, HIMIPref™ users must download the new executable in the usual way. Don’t forget to back up user files prior to installation!

There is a possibility that I might isolate the hypervariable sections of code and place them in a new web-service, with calculations and descriptions to be downloaded on the fly. This would mean that the front-end could stay constant; to add a new floating rate specification I would simply recode and reinstall the service on server-side, invisibly to users. However, I have not yet determined that this concept is practically possible or, if possible, whether or not it will simply lead to spaghetti code making future enhancements possible. Until I’ve made a decision, users will simply have to re-download and re-install the front-end every time the issuers come up with a new spread!

2 Responses to “Fixed-Reset Issues Added to HIMIPref™”

  1. […] issues celebrated their ascension to respectability (by which I mean, of course, incorporation into the HIMIPref™ database) by losing money. PerpetualDiscounts had a good […]

  2. […] mentioned previously, differences in spreads for Floating Rate issues require a new build every time there is a new […]

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