DAY COUNT
ACT/365 Fixed
Counts actual elapsed days and divides by 365.
Market use
Used in a number of sterling and other market conventions.
What it means
Counts actual elapsed days and divides by 365.
Example
A 30-day accrual uses 30/365 of the annual rate.
How to interpret it
This concept should be read together with its market convention, measurement horizon and underlying instrument. BondStats presents it as an analytical reference rather than investment advice; instrument documentation and primary market rules remain authoritative.
Related Conventions
BondStats reference content is independently written. Mathematical relationships, abbreviations and market conventions are presented for educational and analytical use.