
BONDSJDZ calculates prices and yields for various types of fixed income
securities.  It also calculates some price and yield sensitivity measures 
such as PV01, YV32, duration and convexity.  Equivalent yields and
calculation variables are also displayed.  The price and yield calculations 
were based upon the formulas and procedures presented in the Securities 
Industry Association's "Standard Securities Calculation Methods" (SSCM) 
Volume 1.  

Program inputs and operation are self evident, and attempt to follow 
standard windows programming conventions.  For additional information 
select "About" from the program menu.

The program is written to run on PC's running MS Windows 3.1 or later.  
There are no other system requirements.

BONDSJDZ is freely distributable at no charge to anyone who wishes to 
use it.


***********************************************************************
*** WARNING IMPORTANT INFORMATION *** WARNING IMPORTANT INFORMATION ***
***********************************************************************

*******************  WARNING USE PROGRAM AT YOUR OWN RISK *************

The program is provided free of charge to any one who wishes to use it.
Neither the author nor any other person, entity, or organization assumes
any liability for any losses - financial or otherwise - that users may 
incur through their use of the program.

The author does not warrant or guarantee the accuracy of the program nor
any values the program may calculate.  The author does not warrant or 
guarantee that the program correctly  follows industry conventions.  
The practices and calculations of the fixed income market are complex and 
users must be aware that there is a high probability that errors exist in 
this program.  Moreover, there is no assurance that the calculations, 
even when properly performed, accurately follow any convention or practice
that securities' industry participants may actually follow.

The Securities Industry Association has no association whatsoever with this 
program and are totally unaware of its existence.
Although the author employed the SIA's SSCM as a reference in developing the 
calculation algorithms other sources were also employed.  
The author does not represent that the practices, formulas, and algorithms 
included in the program faithfully reflect any formulas, practices or 
procedures provided in the SIA's SSCM Volume 1 or those provided in 
any other source.

The program is provided on an as is basis.  No support or maintenance is 
offered or implied.  Program updates may be made available in the future,
but there is no promise made to update the program of fix any errors which
may exist.  Although no maintenance is offered or implied the author would 
be happy to receive any correspondence from anyone who uses the program
regarding errors or suggested improvements.  A mailing address for the 
author can be obtained by selecting "About" from the program menu

***************************************************************************


jdz
4/6/1996
