SuperTRUMP was originally designed in 1986 with the capacity to analyze leases extending well beyond the year 2000, and we have not needed any changes in SuperTRUMP in anticipation of Y2K. You have probably already priced many such transactions with prior versions of SuperTRUMP.
SuperTRUMP uses a 2-digit "windowing" method for entering dates. Using 2 digits for the year entry, 70 to 99 refer to years 1970 to 1999, and 00 to 69 refer to years 2000 to 2069. Once entered, dates are then stored as the number of days since the end of 1969. With this system, users can enter dates through 2069, and SuperTRUMP can calculate and store dates through 2148. Future versions of SuperTRUMP will allow the user to define the 100-year window for entering dates.
SuperTRUMP is based on a banking calendar, which has 360 days per year consisting of twelve 30-day months. Many commercially available pricing programs use this convention. A number of Y2K compliance tests require that software properly recognize the date December 31, 1999. As it turns out, this is not a valid date using a banking calendar. These tests should use December 30th instead. Consistent with this, February 30th is a valid date.
It is possible, however, to perform interest calculations in SuperTRUMP based on the actual number of days in each month and year, and to print reports which display the actual end of every month (rather than the 30th of each month). For actual-day calculations SuperTRUMP correctly treats the year 2000 as a leap year.
SuperTRUMP handled the date change to the year 2000 without any problems.
In addition, we have a company Y2K contigency plan for dealing with Y2K issues beyond SuperTRUMP. If you have any further questions on this issue, or if there is anything else that we can do for you, please let us know.
