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Derivatives

  Derivatives   |   Terms
  • 1092
  • September 2, 2021
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Odd Date

A date that doesn’t fall on standard maturities of forward/ futures contracts. Banks normally quote forward rates for specific standard maturities (reference points) such as 1, 2, 3, …, 12 months. Odd dates are the maturities dates of derivative contracts that don’t coincide with the ends of whole months. For example, a bank may offer deals with any non-standard maturity such as 42 days, 68 days, 81 days, etc. Such deals are, therefore, known as odd date deals (also broken date deals). Rates for such deals are typically calculated by interpolating between two standard dates.


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