Front Stub

Key Front Stub in Int Rate Spec refers to optional interest rate conventions that apply on the very first time interval [T,T₁] over which the referenced rate accrues, in a context of a series of cash flows paid at T₁...Tₙ - such as those of a bond -, with T being the valuation date, if it is a front stub interval, i.e. if the following two conditions hold:
1) The interval [T,T₁] is partial, in the sense that T₁ is the payment date of a rate that accrues since some time T₁', with T₁' < T
2) [T,T₁] is not the last interval, i.e. 1 < n and T₁ < Tₙ
If omitted, the existing conventions apply on the front stub interval as well.