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Add Philippines calendar (#2789)
2 parents 3d21442 + 2ffade2 commit 858d12a

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‎QuantLib.vcxproj‎

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<ClInclude Include="ql\time\calendars\northmacedonia.hpp" />
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<ClInclude Include="ql\time\calendars\norway.hpp" />
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<ClInclude Include="ql\time\calendars\nullcalendar.hpp" />
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<ClInclude Include="ql\time\calendars\philippines.hpp" />
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<ClInclude Include="ql\time\calendars\poland.hpp" />
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<ClInclude Include="ql\time\calendars\romania.hpp" />
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<ClInclude Include="ql\time\calendars\russia.hpp" />
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<ClCompile Include="ql\time\calendars\newzealand.cpp" />
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<ClCompile Include="ql\time\calendars\northmacedonia.cpp" />
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<ClCompile Include="ql\time\calendars\norway.cpp" />
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<ClCompile Include="ql\time\calendars\philippines.cpp" />
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<ClCompile Include="ql\time\calendars\poland.cpp" />
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<ClCompile Include="ql\time\calendars\romania.cpp" />
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<ClCompile Include="ql\time\calendars\russia.cpp" />

‎QuantLib.vcxproj.filters‎

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<ClInclude Include="ql\time\calendars\nullcalendar.hpp">
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<Filter>time\calendars</Filter>
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</ClInclude>
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<ClInclude Include="ql\time\calendars\philippines.hpp">
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<Filter>time\calendars</Filter>
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</ClInclude>
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<ClInclude Include="ql\time\calendars\poland.hpp">
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<Filter>time\calendars</Filter>
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</ClInclude>
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<ClCompile Include="ql\time\calendars\norway.cpp">
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<Filter>time\calendars</Filter>
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</ClCompile>
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<ClCompile Include="ql\time\calendars\philippines.cpp">
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<Filter>time\calendars</Filter>
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</ClCompile>
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<ClCompile Include="ql\time\calendars\poland.cpp">
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<Filter>time\calendars</Filter>
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</ClCompile>

‎ql/CMakeLists.txt‎

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time/calendars/newzealand.cpp
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time/calendars/northmacedonia.cpp
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time/calendars/norway.cpp
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time/calendars/philippines.cpp
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time/calendars/poland.cpp
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time/calendars/romania.cpp
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time/calendars/russia.cpp
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time/calendars/northmacedonia.hpp
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time/calendars/norway.hpp
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time/calendars/nullcalendar.hpp
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time/calendars/philippines.hpp
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time/calendars/poland.hpp
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time/calendars/romania.hpp
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time/calendars/russia.hpp

‎ql/time/calendars/Makefile.am‎

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northmacedonia.hpp \
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norway.hpp \
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nullcalendar.hpp \
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philippines.hpp \
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poland.hpp \
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romania.hpp \
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russia.hpp \
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newzealand.cpp \
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northmacedonia.cpp \
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norway.cpp \
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philippines.cpp \
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poland.cpp \
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romania.cpp \
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russia.cpp \

‎ql/time/calendars/all.hpp‎

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#include <ql/time/calendars/northmacedonia.hpp>
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#include <ql/time/calendars/norway.hpp>
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#include <ql/time/calendars/nullcalendar.hpp>
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#include <ql/time/calendars/philippines.hpp>
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#include <ql/time/calendars/poland.hpp>
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#include <ql/time/calendars/romania.hpp>
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#include <ql/time/calendars/russia.hpp>

‎ql/time/calendars/philippines.cpp‎

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/* -*- mode: c++; tab-width: 4; indent-tabs-mode: nil; c-basic-offset: 4 -*- */
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/*
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Copyright (C) 2026 Lawrenz Law
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This file is part of QuantLib, a free-software/open-source library
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for financial quantitative analysts and developers - http://quantlib.org/
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QuantLib is free software: you can redistribute it and/or modify it
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under the terms of the QuantLib license. You should have received a
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copy of the license along with this program; if not, please email
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<quantlib-dev@lists.sf.net>. The license is also available online at
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<https://www.quantlib.org/license.shtml>.
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This program is distributed in the hope that it will be useful, but WITHOUT
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ANY WARRANTY; without even the implied warranty of MERCHANTABILITY or FITNESS
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FOR A PARTICULAR PURPOSE. See the license for more details.
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*/
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#include <ql/time/calendars/philippines.hpp>
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#include <algorithm>
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#include <vector>
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namespace QuantLib {
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namespace {
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// Holidays that cannot be derived from a rule: the Islamic and
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// Chinese festivals, the additional special (non-working) days
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// proclaimed in a given year only, election days, and the days on
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// which the exchange itself was closed.
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bool isTabulatedPhilippineHoliday(const Date& date) {
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static const std::vector<Date> holidays = {
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// 2020
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Date(25, January, 2020), // Chinese New Year
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Date(25, February, 2020), // EDSA People Power Revolution Anniversary
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Date(17, March, 2020), // COVID-19 trading suspension
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Date(18, March, 2020), // Market Holiday
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Date(25, May, 2020), // Eid'l Fitr
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Date(31, July, 2020), // Eid'l Adha
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Date(2, November, 2020), // All Souls' Day
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Date(12, November, 2020), // No Trading
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Date(24, December, 2020), // Christmas Eve
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// 2021
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Date(12, February, 2021), // Chinese New Year
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Date(25, February, 2021), // EDSA People Power Revolution Anniversary
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Date(13, May, 2021), // Eid'l Fitr
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Date(20, July, 2021), // Eid'l Adha
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// 2022
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Date(1, February, 2022), // Chinese New Year
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Date(25, February, 2022), // EDSA People Power Revolution Anniversary
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Date(3, May, 2022), // Eid'l Fitr
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Date(9, May, 2022), // National and local elections
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Date(10, July, 2022), // Eid'l Adha
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Date(26, September, 2022), // No Trading
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Date(31, October, 2022), // Additional special (non-working) day
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Date(26, December, 2022), // Additional special (non-working) day
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// 2023
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Date(2, January, 2023), // Additional special (non-working) day
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Date(24, February, 2023), // EDSA anniversary, in lieu of February 25th
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Date(10, April, 2023), // Araw ng Kagitingan, in lieu of April 9th
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Date(21, April, 2023), // Eid'l Fitr
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Date(28, June, 2023), // Eid'l Adha
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Date(30, October, 2023), // Barangay and Sangguniang Kabataan elections
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Date(2, November, 2023), // All Souls' Day
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Date(27, November, 2023), // Bonifacio Day, in lieu of November 30th
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Date(26, December, 2023), // Additional special (non-working) day
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// 2024
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Date(9, February, 2024), // Additional special (non-working) day
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Date(10, February, 2024), // Chinese New Year
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Date(10, April, 2024), // Eid'l Fitr
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Date(17, June, 2024), // Eid'l Adha
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Date(24, July, 2024), // Closed - Typhoon
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Date(23, August, 2024), // Ninoy Aquino Day, in lieu of August 21st
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Date(2, November, 2024), // All Souls' Day
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Date(24, December, 2024), // Christmas Eve
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// 2025
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Date(29, January, 2025), // Chinese New Year
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Date(1, April, 2025), // Eid'l Fitr
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Date(12, May, 2025), // National and local elections
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Date(6, June, 2025), // Eid'l Adha
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Date(27, July, 2025), // Founding anniversary of the Iglesia ni Cristo
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Date(31, October, 2025), // Additional special (non-working) day
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Date(24, December, 2025), // Christmas Eve
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// 2026
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Date(17, February, 2026), // Chinese New Year
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Date(20, March, 2026), // Eid'l Fitr
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Date(27, May, 2026), // Eid'l Adha
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Date(2, November, 2026), // All Souls' Day
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Date(24, December, 2026), // Christmas Eve
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// 2027
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Date(6, February, 2027), // Chinese New Year
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Date(10, March, 2027), // Eid'l Fitr
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Date(17, May, 2027), // Eid'l Adha
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};
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return std::binary_search(holidays.begin(), holidays.end(), date);
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}
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// Rule-based holidays that a proclamation moved to another date or
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// turned into a special working day for one year only.
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bool isWithdrawnPhilippineHoliday(const Date& date) {
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static const std::vector<Date> withdrawn = {
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Date(31, December, 2021), // declared a special working day
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Date(30, November, 2023), // Bonifacio Day moved to November 27th
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Date(21, August, 2024), // Ninoy Aquino Day moved to August 23rd
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};
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return std::binary_search(withdrawn.begin(), withdrawn.end(), date);
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}
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}
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Philippines::Philippines(Market) {
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// all calendar instances share the same implementation instance
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static ext::shared_ptr<Calendar::Impl> impl(new Philippines::PseImpl);
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impl_ = impl;
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}
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bool Philippines::PseImpl::isBusinessDay(const Date& date) const {
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Weekday w = date.weekday();
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Day d = date.dayOfMonth(), dd = date.dayOfYear();
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Month m = date.month();
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Year y = date.year();
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Day em = easterMonday(y);
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if (isWeekend(w))
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return false;
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if (isWithdrawnPhilippineHoliday(date))
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return true;
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if ( // New Year's Day
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(d == 1 && m == January)
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// Maundy Thursday
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|| (dd == em - 4)
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// Good Friday
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|| (dd == em - 3)
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// Araw ng Kagitingan (Day of Valor)
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|| (d == 9 && m == April)
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// Labor Day
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|| (d == 1 && m == May)
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// Independence Day
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|| (d == 12 && m == June)
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// Ninoy Aquino Day (a special non-working day since RA 9256)
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|| (d == 21 && m == August && y >= 2004)
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// National Heroes Day (the last Monday of August)
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|| (d >= 25 && m == August && w == Monday)
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// All Saints' Day
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|| (d == 1 && m == November)
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// Bonifacio Day
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|| (d == 30 && m == November)
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// Feast of the Immaculate Conception (since RA 10966)
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|| (d == 8 && m == December && y >= 2018)
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// Christmas Day
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|| (d == 25 && m == December)
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// Rizal Day
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|| (d == 30 && m == December)
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// Last Day of the Year
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|| (d == 31 && m == December))
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return false;
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return !isTabulatedPhilippineHoliday(date);
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}
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}

‎ql/time/calendars/philippines.hpp‎

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/* -*- mode: c++; tab-width: 4; indent-tabs-mode: nil; c-basic-offset: 4 -*- */
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/*
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Copyright (C) 2026 Lawrenz Law
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This file is part of QuantLib, a free-software/open-source library
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for financial quantitative analysts and developers - http://quantlib.org/
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QuantLib is free software: you can redistribute it and/or modify it
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under the terms of the QuantLib license. You should have received a
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copy of the license along with this program; if not, please email
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<quantlib-dev@lists.sf.net>. The license is also available online at
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<https://www.quantlib.org/license.shtml>.
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This program is distributed in the hope that it will be useful, but WITHOUT
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ANY WARRANTY; without even the implied warranty of MERCHANTABILITY or FITNESS
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FOR A PARTICULAR PURPOSE. See the license for more details.
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*/
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/*! \file philippines.hpp
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\brief Philippine calendar
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*/
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#ifndef quantlib_philippines_calendar_hpp
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#define quantlib_philippines_calendar_hpp
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#include <ql/time/calendar.hpp>
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namespace QuantLib {
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//! Philippine calendar
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/*! Holidays for the Philippine Stock Exchange.
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The exchange is closed on both classes of holiday defined by the
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Labor Code, the regular holidays and the special (non-working) days,
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which are also the days on which banks supervised by the Bangko
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Sentral ng Pilipinas are closed. The list additionally contains a few
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dates on which the exchange alone suspended trading, so it is not a
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banking calendar.
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Holidays with a fixed date or a computable rule:
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<ul>
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<li>Saturdays</li>
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<li>Sundays</li>
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<li>New Year's Day, January 1st</li>
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<li>Maundy Thursday</li>
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<li>Good Friday</li>
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<li>Araw ng Kagitingan (Day of Valor), April 9th</li>
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<li>Labor Day, May 1st</li>
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<li>Independence Day, June 12th</li>
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<li>Ninoy Aquino Day, August 21st (a special non-working day since
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RA 9256 of 2004)</li>
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<li>National Heroes Day, the last Monday of August</li>
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<li>All Saints' Day, November 1st</li>
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<li>Bonifacio Day, November 30th</li>
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<li>Feast of the Immaculate Conception, December 8th (a special
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non-working day since RA 10966 of 2017)</li>
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<li>Christmas Day, December 25th</li>
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<li>Rizal Day, December 30th</li>
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<li>Last Day of the Year, December 31st</li>
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</ul>
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Black Saturday is proclaimed a special (non-working) day every year,
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but by construction it always falls on a Saturday and so is already
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covered by the weekend rule.
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Holidays with no fixed rule, tabulated for 2020 to 2027:
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<ul>
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<li>Eid'l Fitr</li>
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<li>Eid'l Adha</li>
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<li>Chinese New Year (a special non-working day since 2012)</li>
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<li>All Souls' Day and Christmas Eve, which are proclaimed in most
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but not all years</li>
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<li>EDSA People Power Revolution Anniversary, a special non-working
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day up to 2023 and a special working day from 2025</li>
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<li>Election days</li>
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<li>One-off additional special non-working days, and the two days on
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which the exchange was closed by the COVID-19 trading suspension
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of March 2020</li>
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</ul>
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A handful of the rule-based holidays above were transferred to another
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date by proclamation (Bonifacio Day in 2023, Ninoy Aquino Day in 2024)
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or downgraded to a special working day (the Last Day of the Year in
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2021); those years are handled as explicit exceptions.
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The Islamic festivals, Chinese New Year and the additional special
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days are set each year by presidential proclamation rather than by
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rule, so they are tabulated from the published proclamations rather
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than computed. Outside the tabulated range only the rule-based
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holidays above are returned. The 2027 proclamation had not been
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issued when this calendar was written, so the 2027 entries cover only
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the festivals whose dates can be predicted (Chinese New Year and the
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two Islamic festivals, the latter still subject to moon sighting);
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any additional special (non-working) day declared for that year is
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missing. The rules also predate the
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"holiday economics" transfers of RA 9492, so years before 2011 are
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not reliable.
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Holiday dates compiled from the presidential proclamations published
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by the Official Gazette and the Presidential Communications Office
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(Proclamations 845 s.2019, 986 and 1107 s.2021, 1236 s.2021, 1357
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s.2022, 42 and 90 s.2022, 167 and 425 s.2023, 368 and 665 s.2024,
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727 s.2024 and 1006 s.2025), cross-checked against
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<https://www.officeholidays.com/countries/philippines>. They should
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be verified against the trading calendar published by the Philippine
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Stock Exchange at <https://www.pse.com.ph/> before being relied upon.
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\ingroup calendars
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*/
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class Philippines : public Calendar {
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private:
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class PseImpl final : public Calendar::WesternImpl {
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public:
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std::string name() const override { return "Philippine stock exchange"; }
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bool isBusinessDay(const Date&) const override;
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};
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public:
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enum Market {
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PSE //!< Philippine Stock Exchange
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};
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explicit Philippines(Market m = PSE);
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};
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}
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#endif

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