HOLS - Holiday Maintenance
What is HOLS
HOLS is the procedure used to mark specific days of the year that are non-working. There is no need to mark the centrally nominated weekend days, S01 right-click /overall control. Hivedome would have setup the site specifying which days, usually Saturday and Sunday, are the standard week end, S01 right-click /overall control. ITAS does allow other combinations of weekend e.g. Friday and Saturday.
The non-working days apply primarily for the operational country of residence for this ITAS installation but other country holidays are needed for Futures & Options off-the-board calculations where the F&O instrument is based in a country different to the central server country (gf/ctrl02_geogflg).
TRS currency validation for maturity dates uses the CCYHOLS table as country holidays can not be applied in the same way as currencies e.g. EURO.
HOLS is used to amend the list of dates as being official company holidays (these holidays include any national holidays). The list of holidays is important for it is used in all calculations in which the number of working days is a variable (e.g. forward exchange rates, off-the-board for various Exchanges etc.).
This calendar also controls the operation for all ITAS house-keeping procedures, the tick box named as ITAS holiday
The maintenance is simple, enter the country (optional) and date. If your company is working on a bank holiday do NOT mark HOLS as being a holiday. You can remove lines from the list by mouse right-click and 'delete row'.
There is no detrimental operational effect in running ITAS overnight processes EVERY night. As stated previous in this help document, the importance of HOLS is for F&O and FX calculations of non-working dates. Note that F&O off-the-board date calculations always apply Saturday and Sunday as non-working irrespective of ITAS nomination of non-working days. The SPAN_NOW collection of F&O prices from the market web sites would fail in retrieving the website files but the ITAS process will complete and populate the span arrays (Initial Margin) with latest available data. The spot prices and daily TPRICE will not be affected.