ISO/NP 26618

Financial Services — Algorithmic Contract Types Unified Standards (ACTUS) — Algorithmic Representation of Financial Contracts

Apstrakt

This document specifies the algorithmic representation of financial contracts by defining:

● Fundamental Notations and Conventions: Contract attributes, state variables, event scheduling, and basic mathematical operators.
● Utility Functions: Functions for schedule generation, business day adjustments, and year fraction calculations.
● Structural Concepts: Contract composition, risk factor observation, and child contract observation.

This document aims to facilitate consistent digital representation of financial contracts, enabling unambiguous interpretation and computation for valuation, risk management, settlement, and broader, more consistent analytics for both individual financial institutions as well as the financial industry as a whole.