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:
In the Reference Desk workspace,
...
in the left navigation pane, click Corporate Actions and then click Voluntary Elections>Add Voluntary Corporate Action Election.
You see the Add Voluntary Corporate Action Announcement screen.In the Query Voluntary Corporate Action Announcement section of the Entry panel, enter criteria to select the released corporate action announcements for which you want to add voluntary entity elections.
Specify a date range for corporate actions to include in the Voluntary Corporate Action Begin Date and Voluntary Corporate Action End Date fields. All other criteria are optional.
Click Submit.
You see the results of your query in the Show All tab.Select the row for the voluntary corporate election you want to add and then click the Add Entity Election Detail button on the toolbar.
You see the Action Entry Panel-Add Entity Election Detail which displays information for the selected corporate action, and allows you to provide details about the entity election.In the Add Voluntary Entity election section, identify the Entity ID and Entity Name.
In the Entity Election Details section, select the Entity Election Status: Pending or Released.
Complete the remaining options on the Action Entry Panel - Add Entity Election Detail tab.
The options you see vary based on the type of corporate action you select. You must specify the Elected Shares, Elected Shares Percent, and Entity Election Status values. You provide additional details, as appropriate.If multiple entities elect to participate in the voluntary corporate action, and you want to add multiple entity election details, use the pane at the bottom of the Add Entity Election Detail tab as follows:
- Right-click and select Add Rows.
- Enter the number of rows you want to add in the Enter Rows Count dialog box and click OK. You must add a row for each entity election to associate with the voluntary corporate action.
- Complete the options on each row with the entity election details to add.Click Submit.
Add Voluntary Corporate Action Election Panel Options
In the Add Voluntary Corporate Action Election panel, when you add an entity election details to a voluntary corporate action, you can select various options. Note that options vary according to the type of corporate action you select.
Option | Tag | Description |
|---|---|---|
Query Flag | 990 | Allows you to select corporate actions based on a specific type of date. Options include::
|
Client Specific CA ID | 1695 | Specifies the client specific identifier for the corporate action. |
Source Name | 1102 | Specifies the source name for the corporate action. The default value is Eagle PACE. |
Asset ID Type | 1432 | Specifies the primary asset identifier type for the security, such as CUSIP, ISIN, and SEDOL. This field appears if you select a query option for one security. |
Asset ID | 14 | Specifies the identification number of the primary asset ID type for the security. This field appears if you select a query option for one security. |
Issue Name | 961 | Specifies the name of the security. This field appears if you select a query option for one security. |
To Asset ID Type | 1103 | Specifies the primary asset identifier type for the To security, such as CUSIP, ISIN, and SEDOL. For a conversion, this is the underlying security to which the convertible bond converts. |
To Asset ID | 1348 | Specifies the primary asset identifier of the to security. |
To Issue Name | 1141 | Specifies the name of the security. |
Voluntary Corporate Action Begin Date | 71 | Specifies the start date for corporate actions to include in the query results. You can enter the same date as the start and end date. |
Voluntary Corporate Action End Date | 73 | Specifies the end date for corporate actions to include in the query results. |
Voluntary Corporate Action Status | 54 | Indicates if the corporate action is correct and ready for processing. Options include:
|
Corporate Action Type | 1728 | Identifies the business name for the corporate action. |
Corporate Action Event Type | 1257 | Specifies the type of corporate action event. |
Add Entity Elections Options
The following are the Add Voluntary Entity Election options in the Action Entry Panel – Add Entity Election Detail tab of the Add Voluntary Corporate Action Election panel.
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:
|
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:
|
Entity Election Notes | 4520 | Displays any notes on the entity election. |
Consent Information | ||
Eligible for Consent | 8097 | Indicates whether the voluntary corporate action entity election is eligible for consent payments. Options include: |
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. |