Bond Position and P/L

1. Market Value

Market Value refers to the market value of your current bond position. Market Value = Position Nominal Value * Indicative Closing Price / Par Value + Accrued Interest

Where:

Indicative Closing Price = (Indicative Bid Price + Indicative Ask Price) / 2; 

Par Value is usually 100.

2. Accrued Interest

Accrued Interest refers to the total amount of interest accrued on your current bond position since the last coupon payment date. You can receive it if you sell the bond.

Accrued Interest = Unit Accrued Interest (displayed on the bond details page) * Position Nominal Value / Par Value

For example, suppose the unit accrued interest displayed on the bond details page is 2.8, and the nominal value of your bond position is $200,000, then your accrued interest is 2.8*200000/100=$5600

Note: When the next coupon payment date is approaching, the accrued interest and the market value may temporarily drop, as the corresponding accrued interest will be converted into a coupon payment and credited to your account after the issuer makes the payment.

3. P/L

P/L refers to the amount of income obtained during the period when you hold the bond position.

P/L = Position Market Value + Total Interest Earned + Total Selling Amount - Total Buying Amount

The above buying and selling amounts include accrued interest but exclude fees.

4. Cost 

Cost refers to the diluted cost during the period when you hold the bond position.

Cost = Total Buying Amount - Total Selling Amount - Total Interest Earned

The above buying and selling amounts include accrued interest but exclude fees. 

5. P/L%

P/L% = P/L / Cost