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You can cancel a single trade or multiple trades for a private equity fund. 

Cancel a Single Trade for Private Equity

In the Cancel Capital or Share Based Fund Investments panel, you can cancel a single trade for a private equity fund. If you need to cancel the initial commitment for a private equity position (LPOPEN event), first cancel all subsequent activity for the position. 

If you track pending transaction activity, be aware that you can set up pending trade rules that determine how the system handles automated and manual trade cancellations within the pending trades workflow. 

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Manage Private Equity

  • Private Equity (PE) Best Practices V17 R2.36+
    • Info

    Be aware that you cannot use the Cancel & Rebook Trade tool to cancel trades booked for private equity funds and rebook those transactions. 

    To cancel a single trade for private equity:

    1. In the Accounting Center, in the left navigation pane, click Transactions > Trades > Cancel Trade > Cancel Capital or Share Based Fund Investments.
      You see the Cancel Capital or Share Based Fund Investments panel.

    2. Under Entity Information, select the entity and accounting basis for the trade you want to cancel. 

    3. Under Issue Information, enter the issue-level criteria for the trade you want to cancel. 
      You can specify criteria to search for a security such as issue Issue Name/Ticker/Cross Reference ID, Event ID, or Target Trade Ticket Number, along with a date range. The lookup only returns securities held by the entity.

    4. Under Fund Investment Information, choose the trade you want to cancel.  
      The Choose Transaction to Cancel lookup displays all trades booked for the security you selected.

    5. You can modify the Cancel Accounting Date value.
      If you cancel a settled trade, the system automatically cancels the settlement of that trade using the Rollback and Replay process.

    6. You can specify a comment about the cancellation in the Transaction Notes field. 

    7. Click Submit.

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    Cancel Capital or Share Based Fund Investments Panel Options

    The following are the options in the Cancel

    Trade

    Capital or Share Based Fund Investments panel. 

    Option

    Tag

    Description

    Entity Information

    Entity ID

    1163

    Specifies the unique identifier of the entity.

    Entity Name

    1164

    Specifies the name of the entity.

    Base Currency

    86

    Displays the base currency of the entity.

    Accounting Basis

    21

    Specifies the primary accounting basis for the entity. Options include:

    • GAAP. The system is set up in accordance with Generally Accepted Accounting Principles. This is the most common basis.

    • IFRS. The system is set up in accordance with International Financial Reporting Standards (IFRS).

    • STAT. The system is set up for use with statutory insurance.

    • USTAX. Default. The system is set up in accordance with domestic tax regulations.

    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:

    • Issuer Name/Ticker/Xref ID

    • Target Event ID

    • Target Trade Ticket Number

    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 the position is long or short.

    Cross Reference Type

    1234

    If you set Cancel Transaction By to Issue Name/Ticker/Xref, specifies the cross reference type associated with the security.

    Issue Name

    961

    If you set Cancel Transaction By to Issue Name/Ticker/Xref, specifies the name of the security.

    Ticker 

    13

    If you set Cancel Transaction By to Issue Name/Ticker/Xref, specifies the trade ticker of the security.

    Cross Reference ID

    1233

    If you set Cancel Transaction By to Issue Name/Ticker/Xref, specifies the security identifier.

    Instrument Type

    11

    Displays the type of instrument.

    Security Type

    82

    Displays the type of security.

    Processing Security Type

    3931

    Displays the processing security type.

    Issue Currency

    85

    Displays the local currency of the security.

    Event ID

    25

    If you set Cancel Transaction By to Event ID,

    specifiies

    specifies the event ID. 

    Target Trade Ticket Number

    762

    If you set Cancel Transaction By to Target Trade Ticket Number, specifies the trade ticket identification number of the target trade. . 

    Fund Investment Information

    Choose Trade to Cancel

    962

    If you set Cancel Transaction By to Issue Name/Ticker/Xref, identifies the trade that you want to cancel. The lookup displays all trades booked for the security by Original Event and Trade Date

    .

    .

    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.

    Shares

    40

    Displays the quantity.

    Cost Local

    50

    Displays the local net amount.

    Cost Base

    478

    Displays the base net amount. 

    Cash Amount Local

    64

    Displays the settlement cash amount of the trade.

    Target Event ID

    26

    Displays the target event ID.

    Other Information

    Transaction Notes

    56

    Specifies notes about the transaction.

    Cancel a Batch of Trades for Private Equity

    You can cancel a batch of trades for a private equity fund for a selected entity/security grouping using the Batch Cancel Trade panel. The system allows you to cancel multiple private equity transactions at the same time with the exception of LPOPEN events for initial funding and LPCLOSE events for closing the position. 

    If you use the Multiple Calls/Cash panel to submit a set of transactions for a private equity fund, you can use the Batch Cancel Trade panel to cancel that set of transactions. You can use the Batch Identifier (tag 701) field to identify the set of trades you want to cancel.