The value date of a money market transaction is the date on which the transaction is consummated, i.e. delivery takes place.
Interpolation is the process of estimating a price or rate for value on a particular date by comparing the prices actually quoted for values dates earlier and later than the date required.
Extrapolation is the process of estimating a price or rate for value on a particular date, from other known prices, when the value date required lies outside the period covered by the known prices.
In many transactions, there is a delay, of one day or more, between agreeing on a transaction with the counterparty and actually transferring the cash ...