In the Global Process workspace, you can run global jobs to apply corporate actions against all eligible entities and holdings. You can run these jobs for released mandatory and voluntary corporate actions. Eagle can configure your environment so that all the various corporate action panels are automatically executed each business day.
For complex corporate actions, where the system processes multiple corporate action announcements for a security on the same day, the system uses the announcement's sub priority value to determine the order in which to process the corporate actions. For example, if you enter three separate announcements associated with a stock split for a spin off (1), reverse split (2), and name change (3), you can assign a sub priority to each announcement, because you want the announcement processed automatically by the Global Process workspace in a specific order.
To process corporate actions manually:
- In Accounting Center, in the left navigation pane, click Processing and Exceptions > Global Processes.
You see the Global Process workspace. - In the left navigation, click Corporate Actions.
You see the options for each panel where you can process specific types of corporate action announcements. - Select the option for that applies to the type of corporate action announcement you want to process. Options that apply to for fixed income securities include:
- Cash Tender/Calls/Puts/Refund/Credit Event Processing. Allows you Displays the options to process fixed income corporation actions for cash tenders, calls, puts, and prerefunded securities.
- Exchange Offer. Displays the options to process fixed income corporate actions for exchange offers and conversions.
- Factor Processing. Allows you Displays the options to process Final Factor corporate action announcements.
Merger Processing. Allows you - Partial Pre Refunding. Displays the options to process fixed income corporate actions for exchange offers and conversions, redenomination of bonds, partial prerefunds, and unit separations.
- Payment in Kind Bond - Processing. Allows you Displays the options to process PIK Bonds corporate actions.
- Redenomination of Bonds. Displays the options to process fixed income corporate actions for redenomination of bonds.
- Reinvest Collateral Coupon Processing. Allows you Displays the options to process any Underlying Collateral Coupon Reinvestment type announcements for Buy Sellbacks or Sell Buybacks.
- Sink Schedule Processing. Allows you Displays the options to process sinking fund payments for a Sink Schedule corporate action.
- Unit Splits. Displays the options to process a Unit Separation type corporate action. - Complete the options on the Global Process Processes panel you selected.
The options include common options that apply to all corporate action announcements and options specific to the corporate action you selected. - Click Submit.
When processing completes, the Global Process workspace displays the results of the job.
The system processes the corporate actions that met your global processing criteria. It only processes mandatory corporate actions that have a status of Released, along with corporate actions with voluntary elections that have an Entity Election Status of Released. It processes the entitlements to the appropriate entities based on the reference data entered for the corporate action.
Each lot resulting from a corporate action has a unique identifier for both open and close trades. A unique value is mapped to the Trade Ticket Number field (tag 761) for corporate action events. For opens, it is the same value that the system sets for Open Event ID (tag 151). For closes, it is the combination of ClsOpenEvent ID (tag 181) and Close Event ID (tag 182).