Global-FISA provides full market coverage for both primary and secondary international fixed income marketing including government/treasury, corporate, MTN, municipal/provincial, CDs, preferred and perpetual securities. Calculate a broad range of analytical values for fixed income securities quickly and accurately including: prices, yields, equivalent yields, and volatility measures.

Accurate & Compliant

• Supports all U.S. market conventions and complies with Securities Industry and Financial Markets Association (SIFMA) and International Capital Market Association (ICMA) calculation standards.
• An extensive test data suite and test harness is available to allow direct comparison of calculated values with expected benchmark values.

Easy to Learn

• Entirely object-oriented design simplifies implementation.
• Easily understood calling structure shortens the learning curve for developers; no need to learn thousands of function calls.
• Complete and up-to-the-minute documentation available online.
• Review sample code in Java, C++, or VB that clearly illustrates class and method usage.
• Simply pick your market and security type and the correct conventions and calculations are configured for your user – developers need not be market experts to be produce accurate results.
• New securities, calculations and conventions are made available to you as they are introduced in the fixed income market; we keep up with market changes so you don’t have to.

Flexible

• Eliminate client-server round trips and latency by distributing the calculations to the client-side. Or, implement on the server-side for centralized auditing and control.
• A user-definable degree of convergence in iterative equations allows you to optimize at run-time for ultimate precision or scorching speed.

Convenient

• Use our utility classes to download and use our market-holiday calendar or use your own custom calendar.
• Use our utility classes to download and use public CPI/RPI history for calculating inflation-indexed adjustment ratios, or supply your own ratios.

FISA components are available in several different code bases:

• Microsoft .NET – For use with VB, C#, and other .NET compliant programming languages
• Java
• C++
• API – Amazon AWS Lambda-hosted

FTLabs includes support for securities from the United States, Canada, Japan, Euro Zone, Germany, France, Italy, and the United Kingdom.
The instruments, calculated results, and market conventions supported include:

Supported Financial Instruments

US Treasury Securities

• Treasury Bills
• Treasury Notes
• Treasury Bonds
• Treasury STRIPs
• Treasury Inflation-indexed Securities

US Agency Securities

• Agency Bonds
• Agency Fixed Rate Notes
• Agency Discount Notes
• Agency Floating Rate Notes

US Corporate Securities

• Corporate Bonds
• Callable Bonds
• Zero Coupon Bonds
• Stepped Coupon Bonds
• Medium-term Notes
• Retail Structured Notes
• Preferred Securities
• Hybrid Preferred Securities
• Perpetual Securities
• Commercial Paper
• certificates of Deposit (Fixed, Floating, & Term)

US Municipal Securities

• Municipal Bonds
• Callable Bonds
• Zero coupon bonds
• Stepped Coupon Bonds
• Municipal Notes

US Certificates of Deposit

• Fixed Rate
• Floating Rate
• Term

United Kingdom Securities

• Treasury (Gilt) Bills
• Treasury (Gilt) Notes
• Treasury (Gilt) Bonds
• Treasury (Gilt) STRIPs
• Treasury (Gilt) Inflation-Indexed Securities

Canadian Securities

• Treasury Bills
• Government Bonds
• Provincial Bonds
• Municipal Bonds
• Corporate Bonds

European Securities

• Eurobonds
• German Fixed-rate Bonds
• French BTANs
• French OATs
• Italian BOTs and CTZs

Japanese Securities

• Treasury Bills
• Government Bills

Calculations & Analytics Supported

Pricing Calculations

• Price given yield
• Yield given price
• Price given discount
• Accrued interest

Equivalent Yields

• Current yield
• Money-market yield (360 day year)
• Simple yield (365 day year)
• Bond equivalent yield
• Discount rate
• Inflation-adjusted yield

Volatility Analytics

• Estimated modified duration
• Estimated Macaulay duration
• Actual modified duration
• Actual Macaulay duration
• Estimated convexity
• Actual convexity
• Price value of 1bp
• Yield value of 1/32nd

Market Conventions Supported

Coupon Periods

• Normal coupon periods
• Short or long first coupon period
• Short or long last coupon period
• Short or long first and last coupon periods
• End-of-month adjustment

Interest Frequency

• Monthly
• Quarterly
• Semi-annually
• Annually
• At maturity

Daycount Conventions

• 30/360
• 30 Euro/360
• ACT/360
• ACT/365
• ACT/ACT
• ACT/Year
• Japan/365