Cancel an Equity Method Trade

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.
UnderEntity Information,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 Equity Method Trade panel.
Click Submit.

Cancel Equity Method Trade Panel Options

The following are the options in the Cancel Equity Method Trade panel.

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: 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 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 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.