In the Cancel Equity Method Trade panel, you can cancel a single trade that uses the equity method of accounting. The panel allows you to cancel equity method transactions, including open (MTOPEN/EMAOPEN, MTOPEN/ECCONV)) and close (MTCLOSE/EMACLOSE) transactions for equity method positions, as well as adjustment (MTADJUST/EMAADJUST) transactions.
The Cancel an Equity Method Trade panel differs from the panels in core STAR accounting that you use to cancel a single trade or a batch of trades, such as the Cancel Trade panel, the Batch Cancel Trade panel, and the Cancel & Rebook Trade workspace. If a position uses the equity method of accounting for any accounting basis, you must use the Cancel an Equity Method Trade panel to cancel transactions for the position.
To cancel a trade for a position that uses the equity method of accounting:
- In the Accounting Center, in the left navigation pane, click Transactions > Equity Method > Cancel Trade > Cancel Equity Method Trade.
You see the Cancel Equity Method Trade panel. - UnderUnder Entity Information,select select the entity for the transaction you want to cancel.
- Under Issue Information, select the security for the transaction you want to cancel.
You can search for the security by Issuer Name/Xref ID/Ticker, Event ID, and Target Trade Ticket Number. The lookups allow you to select a security held by the selected entity. - Under Cancel Trade Detail Information, in the Choose Trade to Cancel box, select the transaction you want to cancel.
The lookup displays all trades booked for the selected entity/security. - In the Cancel Monthly Accounting Date field, you can modify the accounting date.
- Complete the remaining options on the Cancel Cancel Equity Method Trade panel.
- Click Submit.
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Option | Tag | Description |
|---|---|---|
Entity Information | ||
Entity ID | 1163 | Specifies the unique identifier of the entity. You can select an entity that has at least one accounting basis with an EMA Treatment of Other or STAT assigned. |
Entity Name | 1164 | Specifies the name of the entity. You can select an entity that has at least one accounting basis with an EMA Treatment of Other or STAT assigned. |
Base Currency | 86 | Displays the base currency of the entity. |
Accounting Basis | 21 | Specifies the primary accounting basis for the entity by default. Options include:
|
Issue Information | ||
Cancel Trade By | 1256 | Specifies the security identifier for the trade you want to cancel. Additional options are displayed based on your selection. Options include:
|
Event Type | 55 | Displays the business intent of the event. For example, CANCEL. |
Begin Date | 220 | Defines the begin date. |
End Date | 221 | Defines the end date. |
Long/Short Indicator | 15 | Displays whether a position is long or short. |
Xref Type | 1234 | Specifies the cross reference type associated with the security. |
| Issue Name | 961 | Specifies the name of the security. |
| Ticker | 13 | Specifies the trade ticker of the security. |
| Xref ID | 1233 | Specifies the cross reference identifier associated with the security. |
| Instrument Type | 11 | Displays the type of instrument. For equity method positions, a security with a processing security type of Common Stock (EQCSCS) has an Instrument Type of Equity (EQ). A security with a Joint Venture/Limited Liability/Partnership (JVLCLP) processing security type has an Investment Type of Equity/Cost Method (EC), |
Security Type | 82 | Displays the type of security. |
Processing Security Type | 3931 | Displays the processing security type. Equity method positions have a processing security type of Common Stock (EQCSCS) or Joint Venture/Limited Liability/Partnership (JVLCLP). |
Issue Currency | 85 | Displays the local currency of the security. |
| Event ID | 25 | Specifies the target event ID type. This field appears if you set Cancel Trade By to Event ID. |
| Target Trade Ticket Number | 762 | Specifies the trade ticket identification number of the target trade. . |
Cancel Trade Detail Information | ||
Choose Trade to Cancel | 962 | Identifies the transaction you want to cancel. The lookup displays all trades booked for the entity/security. |
Cancel Effective Date | 35 | Displays the cancel effective date. |
Cancel Accounting Date | 36 | Specifies the cancel accounting date. |
Cancel Monthly Accounting Date | 4733 | Displays the cancel monthly accounting date. |
Original Accounting Date | 7560 | Displays the original accounting date. |
Original Monthly Accounting Date | 7561 | Displays the original monthly accounting date. |
Target Event Type | 502 | Displays the target event type. |
Quantity | 40 | Displays the quantity. |
Price | 45 | Displays the price. |
Local Net Amount | 50 | Displays the local net amount. |
Target Event ID | 26 | Displays the target event ID. |
Other Information | ||
Transaction Notes | 56 | Specifies notes about the transaction. |
| Basis Specific Event | 8946 | Displays Y or N to to indicate whether the transaction you are cancelling is a basis-specific event. For example, the event for an equity method of accounting conversion transaction (ECCONV), an equity method cost adjustment or income adjustment (EMAADJUST), or an equity method distribution (EMAADJUST) is basis specific. |
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