Date rolling rules are generally referred to in derivatives and fixed-income markets as
business day conventions. The
International Swaps and Derivatives Association (ISDA) uses conventions such as
Following,
Modified Following, and
Preceding to determine how payment dates and other scheduled dates are adjusted when they fall on a non-business day. In practice, the modified following convention is widely used for interest-rate products because it preserves the general timing of the payment while avoiding movement into the next calendar month. ISDA guidance and definitional materials use modified following as a common default for many scheduled dates in over-the-counter derivatives. == See also ==