Currently, the Business Day Conventions fields are available on MM/Sec deals page when the formula = Yield Periodic only. Client has requested these be made available for all Formulas
The issue is when the deal was originally created, there was a mistake on one of the financial related fields on the instrument, however it wasn't noticed immediately until some time after the deal save. If the incorrect setting is on the deal itself, for example the income day count convention, then they would reset the deal, make the change and resave the deal. However, there are number of financial related fields that are on the instrument but not available to change on the deal, for example Business Day Conventions. In that situation, they are forced to delete the deal (and mirrored deal), correct the instrument level fields, create a new deal using the update instrument and save. This results in a new deal number, which has other downstream issues, particularly on reporting, hedge accounting and also external reporting.
I see two possible options:
For GE, the ideal solution would allow them to redefault the instrument setup on a live deal. They understand that this would rebuild the deal map and reverse all GLs, however this option works for them as it allows them to retain the same deal number after the instrument has been corrected and resaved. I'm thinking a new menu item would be required, that becomes available when a deal is reset, called "Refresh deal" or similar. I also think this option may have the least impact on Analytics.
If the above requires a lot of dev time, then at the minimum they would like to see the Business Day Conventions fields made available for all MM/Sec formula types. Currently these fields are only available for the Yield-Periodic formula. However, I think this option may have a larger impact on Analytics.
What is required is for a spike to be done on this to determine the dev effort involved in the two possible options
Ability to perform a refresh on a live deal
Expose the Business Day Convention fields for all MM/Sec formulas