A classification of trading bonds or preference shares when the coupon belongs to the seller rather than the buyer. The terms of a bond will establish on what date the bond will trade ex-coupon and it can be different for different bonds. For Commonwealth Government bonds the ex-coupon date is seven calendar days before the coupon date. The period between the ex-coupon date and the coupon date is known as the ex-period.« Back to Glossary Index
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