ireland.cpp

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/*
 Copyright (C) 2021 Quaternion Risk Management Ltd
 All rights reserved.
 
 This file is part of ORE, a free-software/open-source library
 for transparent pricing and risk analysis - http://opensourcerisk.org
 
 ORE is free software: you can redistribute it and/or modify it
 under the terms of the Modified BSD License.  You should have received a
 copy of the license along with this program.
 The license is also available online at <http://opensourcerisk.org>
 
 This program is distributed on the basis that it will form a useful
 contribution to risk analytics and model standardisation, but WITHOUT
 ANY WARRANTY; without even the implied warranty of MERCHANTABILITY or
 FITNESS FOR A PARTICULAR PURPOSE. See the license for more details.
*/
#include <ql/errors.hpp>
#include <qle/calendars/ireland.hpp>
#include <qle/time/dateutilities.hpp>
 
namespace QuantExt {
using namespace QuantLib;
 
Ireland::Ireland(const Market market) {
    // all calendar instances on the same market share the same
    // implementation instance
    switch (market) {
    case IrishStockExchange:
        impl_ = QuantLib::ext::make_shared<Ireland::IrishStockExchangeImpl>();
        break;
    case BankHolidays:
        impl_ = QuantLib::ext::make_shared<Ireland::BankHolidaysImpl>();
        break;
    default:
        QL_FAIL("Internal error, unexpected market " << market);
    }
}
 
bool Ireland::IrishStockExchangeImpl::isBusinessDay(const Date& date) const {
    Weekday w = date.weekday();
    Day d = date.dayOfMonth(), dd = date.dayOfYear();
    Month m = date.month();
    Year y = date.year();
    Day em = easterMonday(y);
 
    if (isWeekend(w)
        // New Year's Day (possibly moved to Monday)
        || ((d == 1 || ((d == 2 || d == 3) && w == Monday)) && m == January)
        // Good Friday
        || (dd == em - 3)
        // Easter Monday
        || (dd == em)
        // St. Patrick's Day (possibly moved to Monday)
        || (m == Mar && ((d == 17) || ((d == 18 || d == 19) && w == Monday)))
        // first Monday of May
        || (m == May && d == Date::nthWeekday(1, Monday, May, y).dayOfMonth())
        // first Monday of June
        || (m == June && d == Date::nthWeekday(1, Monday, June, y).dayOfMonth())
        // first Monday of August
        || (m == August && d == Date::nthWeekday(1, Monday, August, y).dayOfMonth())
        // last Monday of October
        || (m == October && d == DateUtilities::lastWeekday(Monday, October, y).dayOfMonth())
        // Christmas (possibly moved to Monday or Tuesday)
        || ((d == 25 || (d == 27 && (w == Monday || w == Tuesday))) && m == December)
        // Boxing Day (possibly moved to Monday or Tuesday)
        || ((d == 26 || (d == 28 && (w == Monday || w == Tuesday))) && m == December))
        return false; // NOLINT(readability-simplify-boolean-expr)
    return true;
}
 
bool Ireland::BankHolidaysImpl::isBusinessDay(const Date& date) const {
    Weekday w = date.weekday();
    Day d = date.dayOfMonth();
    Month m = date.month();
    if (!IrishStockExchangeImpl::isBusinessDay(date) ||
        (m == December && (d == 27 || (d == 29 && (w == Mon || w == Tue || w == Wed)) || (d == 28 && w == Wed))))
        return false;
    else
        return true;
}
} // namespace QuantExt