In the Add Voluntary Corporate Action panel, you can identify the entities that elect to participate in a voluntary corporate action and provide details about their participation. Before you set up entity election details for a voluntary corporate action, you must add the corporate action announcement, setting the Mandatory/Voluntary Indicator field in the announcement panel to Voluntary. You can add voluntary corporate action elections for announcements that have a Released or a Pending corporate action status. However, Eagle Accounting does not process corporation actions until they have a Released status. Eagle Accounting allows you to create one voluntary corporate action election per entity per corporate action announcement.
To add a voluntary corporate action election:
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| Field | Tag | Description |
|---|---|---|
| Add Voluntary Entity Election | ||
| Entity ID | 1163 | Specifies the unique identifier of the entity participating in the voluntary corporate action |
| Entity Name | 1164 | Specifies the name of the entity participating in the voluntary corporate action. |
| Long/short Indicator | 15 | Displays a value of LONG or SHORT for the swap contract and each leg. When the Long/Short Indicator field (tag 2284) in the upper pane has a value of Long, the Long/Short Indicator (tag 15) in the lower pane identifies the swap contract as Long, the pay leg as Short, and the receive leg as Long. If you set the Long/Short Indicator field (tag 2284) in the upper pane to Short, the Long/Short Indicator (tag 15) in the lower pane identifies the swap contract as Short, the pay leg as Long, and the receive leg as Short. |
| Voluntary Restriction Processing | 16658 | Displays whether the selected entity automatically processes restrictions/pledges on voluntary corporate actions. When you add a voluntary corporate action election for an entity with the Voluntary Restriction Processing option set to Yes, Eagle Accounting uses the pledging to restrict the shares elected on the voluntary election. Options include:
For more information on Voluntary Restriction Processing, see Restrict Shares When Booking Voluntary Corporate Actions |
| Voluntary Corporate Action Detail | ||
| Asset ID Type | 1432 | Displays the primary asset identifier type for the security associated with the corporate action, such as CUSIP, ISIN, and SEDOL. |
| Asset ID | 14 | Displays the identification number of the primary asset ID type for the security associated with the corporate action. |
| Corporate Action Type | 1728 | Displays the business name of the selected corporate action. |
| Entity Election Details | ||
| Position Quantity | 122 | Displays the current quantity of the position. |
| Sweep Date | 1197 | Specifies the date that the global processes use to extract the corporate action for processing at the global level and apply it to eligible entities/holdings. |
| Ex Date | 65 | Displays the ex-date of the corporate action. |
| Expiry Date Processing | 12877 | Indicates whether the selected voluntary corporate action election allows processing based on expiration date. This field value initially indicates whether the selected entity allows you to process voluntary corporate actions based on expiration date. You can retain that value or you can override the entity's value at the voluntary corporate action election level. When you set up an entity as eligible or ineligible for expiry date processing, you have the option for some voluntary elections for the entity to use expiry date processing and other voluntary elections for the entity to use ex-date processing instead. Options include:
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| Expiry Date | 12876 | Displays the expiration date of voluntary corporate actions associated with the selected announcement. This field appears if the Expiry date processing field has a value of Yes. For entities that use expiry date processing, the system can process voluntary corporate actions based on expiration date +1. |
| Trade Date | 1109 | Specifies the trade date of the corporate action. By default you see the trade date for the corporate action announcement.. |
| Pay Date | 1275 | Displays the pay date of the corporate action. The pay date is the settlement date of the corporate action. |
| Elected Shares | 316 | Specifies the number of shares participating in the voluntary corporate action for the entity. If you specify the elected shares, the system calculates the Elected Shares Percent value for you. |
| Elected Shares Percent | 1001 | Specifies the percent of shares participating in the voluntary corporate action for the entity. If you specify the elected shares percent, the system calculates the Elected Shares value for you. |
| Entity Election Status | 54 | Indicates the status of the voluntary corporate action entity election. Options include:
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| Entity Election Notes | 4520 | Displays any notes on the entity election. |
| Consent Consent Information | ||
| Eligible for Consent | 8097 | Indicates whether the voluntary corporate action entity election is eligible for consent payments. Options include: Yes and No. |
| Elected Shares for Consent | 8098 | Specifies the number of shares eligible for consent payments. |
Effective Date on Consent | 8011 | Displays the effective date on consent. |
| Rate Of Action (Consent) | 8010 | Displays the effective rate of consent payment. |
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