WebCab Fixed-Interest Bonds v2.1

WebCab Fixed-Interest Bonds contains methods which enable the developer to implement models for the pricing of fixed-interest bonds. We cover interest yield (US and UK), simple yield to maturity (JGB), gross/net redemption yield, current price, holding period return (US and UK), duration and yield curves according to expectation theory.

New Features: Self-Deploy, EAR Files

By clicking the self-install package the EJB component will be automatically deployed onto a supported local EJB application server. We also include multiple EAR files designed for each of the most widely used application servers (see details).

Prices
WebCab Fixed-Interest Bonds v2.1
Single CPU Server License
 $248
2 CPU Server License
 $327
4 CPU Server License
 $491
8 CPU Server License
 $687
Unlimited Site Wide Server License
 $1,031
Demo License (limited functionality)
 $0
Prices are expressed in USD.
Product Details
WebCab Fixed-Interest Bonds implements the following functionality:
  • Interest Yield - A measure of the annual interest in relation to the amount invested in given in net or gross, before or after expenses
  • Simple Yield to Maturity - As used in Japanese bond markets to calculate the yield to maturity (simple yield to maturity) rather than the usual compound interest method (redemption yield)
  • Gross Redemption Yield - For an interest payment date the gross redemption yield is given. We follow the convention in the US and UK to calculate and express redemption yield as a yield per annum, convertible half-yearly
  • Net Redemption Yield - The gross redemption yield on an interest payment date taking into account the investors income tax position
  • Holding period return - The yield over the period the stock was held by the investor according the US and UK interest payment conventions
  • Duration - Known as the effective mean term or discounted mean term, is the mean term of the present value of payments received is given, assuming that the coupon payments are made in equal half-yearly installments and that the present time is an interest payment date
  • Yield Curves - The gross redemption yield according to expectation theory assuming the bond is priced at par
  • Rate of Payments - Knowing the series of payments of one per interval payable in arrears for a number of intervals
  • Current Price - The current price according to the coupon and gross redemption yield
  • Series of Payments - Knowing the rate of interest per interval and the number of intervals

In implementing the above procedures it has often be nessesary to find solutions of polynomial equations. In order to find these solutions we have used the following techniques:

  • Interval Bisection Method - A robust method that always nds a solution or a singularity inside a bracketed interval
  • Newton-Raphson Method - Given a first approximation to a root and the differential of the functon this procedure will always produce a solution. We implement this procedure for polynomial functions of one variable

Within our treatment we have generally assumed that bond metrics have been evaluated on interest payment dates. Applying our metrics on other dates will not lead to significant errors within senarios encountered within financail markets.

This package also contains the following features:


Prerequisites
  • An Operating System running JavaTM
  • Pentium III® 733 Mhz
  • 256MB RAM
  • A J2EE1.3 (EJB2.0) compatible Application Server
  • Space required: 10Mb

Software requirements:
  • Java2 Enterprise Edition
  • JDK 1.3 or compatible
Compatibility
Operating system for deployment :
  • Windows XP, 2000, NT
  • Sun Solaris
  • Linux
  • IBM AIX
  • HP-UX

Architecture of product: 32 bit
Tool type: Component
Component Type: Enterprise JavaBeansTM

Built Using:

  • JavaTM 2 SDK Standard Edition 1.3.1/1.4
  • JavaTM 2 SDK Enterprise Edition 1.3
Application Server
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