Joint
Subtype of Settle RuleThe settlement date T is produced by adding the given number of business days N to the trade (or valuation) date T0 according to the two steps below:
Step 1:Add N to T0 with respect to the joined calendar CALb + CALq to reach the preliminary date T, where CALb, CALq are the calendars associated with the base and quote currencies respectively.
Step 2:This last step applies only when a calendar CALc is supplied in Cross Calendar that signals a cross FX trade that is settled through a common third currency in a bank the location of which is governed by CALc.
In that case and conditionally upon T not being a business day according to CALc, T is shifted until a date is reached that is a business day according to all three involved calendars.
All date shifts abide with the date bump convention supplied in Date Bump.