{"listed_frn":{"formula":"coupon = round((Index[ObsEnd]/Index[ObsStart] − 1) × 365/n_obs × 100 + margin, 4dp)","convention":"Universal SARB §2.2.3 compounded-index formula — one engine for issue, reset and mid-period dates","lookback_bdays_default":5,"schedule":"Modified Following IPD schedule from first_coupon_date","reset_day":"ObsEnd bumped to the next published business day when it collapses onto ObsStart (evaluates the opening overnight)","rounding":"4dp"},"otc_money_market":{"formula":"coupon = roundHalfUp((Index[next]/Index[obs] − 1) × 365/gap × 100 + margin, 4dp)","lookback_bdays":1,"settlement_lag":0,"day_count":"Act/365","rounding":"half-up 4dp"},"index_methodology":{"description":"How the SARB Compounded ZARONIA Index itself is built from the daily ZARONIA rate. Published so you can reproduce it independently.","formula":"Index[i] = Index[i-1] * (1 + (rate[i-1] / 100) * days[i-1] / 365)","rate":"the daily ZARONIA published FOR date i-1, in PERCENT as first published (3dp, e.g. 6.115) - divide by 100 before applying","days":"ACTUAL CALENDAR DAYS from publication date i-1 to date i - 1 midweek, 3 across a weekend, more across a public holiday","day_count":"Act/365 fixed","rounding":"none - the index carries full precision; only the input rate is a 3dp quantity","seed":{"date":"2022-11-01","index":100},"worked_example":{"from":{"date":"2022-11-01","index":100,"rate_pct":6.115},"days":1,"arithmetic":"100 * (1 + (6.115 / 100) * 1 / 365)","gives":100.016753424658,"sarb_published_for_2022_11_02":100.016753424658},"verification":"/v1/integrity","caveat":"Derived by reverse-engineering the published series, not transcribed from an SARB specification of the recurrence. SARB's published index remains the authority and is what this API returns; this recurrence is disclosed so you can check it, not so you can substitute it."},"verification_tolerance_pct":0.0005,"index_source":"SARB Compounded ZARONIA Index, published ~10:00 SAST each business day","disclaimer":"Independent recomputation from the published SARB Compounded ZARONIA Index — not financial advice and not an official SARB, JSE or bank figure. Confirm material differences with your counterparty before acting."}