Process Exchanges

In the Global Process workspace's Exchange Offer panel, you can process exchange corporate actions globally. Global processing only uses exchanges in the Corporate Action table that have a corporate action status of Released. Note that global processing for exchange offers and conversions is similar to global processing for mergers. However, an exchange offer announcement indicates how to treat interest during processing, while a merger does not.

To process an exchange corporate action globally:

1. In Accounting Center, in the left navigation pane, click Processing and Exceptions > Global Processes.
   You see the Global Process workspace.

2. In the left navigation, click Corporate Actions > Exchange Offer.
   You see the Exchange Offer panel.

3. Complete the options on the Exchange Offer panel.

4. Click Submit.
   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. When processing completes, the Global Process workspace displays the results of the job.

You can run reports to check the position or ledger entries or can review your results in Position Viewer. You can see transactions with a merger Event Type and a Corporate Action Type value for conversions or exchange offers in the Cost object's Close Lots (From side) and Open Lots (To side) tabs.