In many countries the standard approach to price derivatives and fixed income
instruments involves the use of business days. In Brazil, for example, the
great majority of financial instruments are priced on business days counting
rules. Given that the use of business days is somehow vital to handle many
tasks. That's the reason why bizdays came up, to make these tasks
easier.
Excel's NETWORKDAYS is fairly at hand and once you have a list of
holidays it is quite easy to put your data into a spreadsheet and make
things happen.
bizdays brings that ease to R.
Although R's users have similar feature in packages like RQuantLib and
timeDate it doesn't come for free. Users have to do some stackoverflow
in order to get this task accomplished. bizdays is a tiny package
dramatically focused on that simple task: support calculations involving
business days for a given list of holidays.
bizdays was designed to work with all common date types and ISO
formatted character strings and all methods have support for vectorized
operations and handle the recycle rule.
Useful links: