Portfolio (IPS) - Corporate Actions
Corporate Actions Overview
The purpose of this guide is to provide information on corporate actions and instructions on using corporate actions in XPLAN.
A corporate action is any event that brings material change to a company. In the case of a share split, merger, warrant or hybrid maturity (where a note then converts to either cash or shares) corporate actions can be automated and templated in XPLAN.
- To view the IRESS Insights Video, please view the following link here. (Created by Anthony Derriscott on July 28, 2016)
Corporate Action Types
Definitions and examples of the more common types of corporate actions here.
Corporate Actions in XPLAN
If corporate actions are not feeding through in the first instance, ensure that corporate actions can be run on the account.
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Note: If accounts are already actioned via a datafeed, the corporate actions must be turned off to prevent XPLAN from modifying them. |
- Go to Portfolios > Admin > Cash & Accounts.
Corporate Action settings available are:
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Allow application– Enables full corporate action access for the portfolio account.
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Deny application– Blocks corporate action access for the portfolio account.
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Allow application, but deny income cash – Enables the portfolio account to execute dividends and create the parent income transaction but no linked cash deposit against the default cash asset.
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Allow application, but deny capital cash– Enables the portfolio account to execute capital corporate action events (ie rights issues) creating the stock movement but no linked cash effect for payment or proceeds against the default cash asset. A linked cash deposit will however be generated when running income templates on this setting.
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Allow application, but deny income and capital cash– enables the portfolio account to execute both income and capital corporate action events without generating any linked cash effect against the default cash asset.
For all Broker Accounts - settings should be as below:
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Note: For all corporate actions, if clients have all taken up a corporate action but have received different allocations then corporate actions must be run against each client individually. |
How to Run Corporate Actions
This section shows how to navigate and run corporate actions via different alternatives, more Information on How to Run Corporate Action here
How to Revise Previously Run Corporate Actions
Executed corporate actions can be revised by updating or reversing previous actions, more information on How to Revise Previously Run Corporate Actions here
How to Create a Corporate Action
Corporate actions are structured with a single Corporate Action with one or more Corporate Action Templates attached.
The corporate action holds:
- Details of the security involved
- Type of action (buy back, dividend…)
- Date of the action
- A Description.
The corporate action templates determine:
- if a template is effects all holdings or if it is optional
- the actual effects on holdings.
Each transaction involved in a corporate action requires a single corporate action template. For example, to take-up a 5:1 rights issue for the security NAB would involve three transactions and require three corporate action templates:
For further information on How to Create a Corporate Action here
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