SDX Interest Rates Help > What SDX Interest Rates Calculates > Accrued or Accrued Interest

Accrued or Accrued Interest

The Accrued result (or the Accrued Interest result) is the interest amount which has already been earned but not yet paid relative to the calculation date. That is, it is the fraction of the next coupon payment amount which has already been earned, and it depends on the number of days that have already passed in the current coupon period.

The accrued interest amount is not discounted.

For most instruments, when you subtract the accrued interest amount from the Net PV value you get the instrument’s PV . For a bond, when you subtract the accrued interest from the Dirty Price you get the Clean Price.

In the Single Option page, for the relevant instruments the accrued amount is shown individually for each of the legs of the deal.

In the Portfolio page, for a swap the accrued amount is displayed as a total amount for the two legs of the swap. It is calculated as follows:

<receiver accrued amount> - <payer accrued amount>