APL |
POSTSECCONV |
POSTSECCONV
Used to process Name Changes, Mergers, Conversions of Convertible Bonds to Common Stocks, Reverse Splits and any other transaction in which there is a deliver and receive of positions.
- Type POSTSECCONV and press
Enter ↵
The following will appear:
X-REF FOR OLD SECURITY (ENTER SACUS, TICK, CUSIP):
- Type the security identifier for the original security and press
Enter ↵
The following will appear:
X-REF FOR NEW SECURITY (ENTER SACUS, TICK, CUSIP):
- Type the security identifier for the new security and press
Enter ↵
The following will appear:
AS OF DATE (MM/DD/YY) - HIT ENTER FOR CURPRDATE :
- Type the record date or the day on which you need to own the security to be entitled to the transaction and press
Enter ↵
The following will appear:
SEARCH FOR WHAT?
- Type the account selection for which the transaction should be processed and press
Enter ↵
The following will appear:
NEXT OPERATION (HIT RETURN WHEN DONE, OR TYPE HELP):
- Type the additional commands for sorting or increasing or decreasing the account selection and press
Enter ↵or simply pressEnter ↵
The following will appear:
ENTER PRICE (market value of old security on ex-date):
- Type the price of the old security on the ex-date and press
Enter ↵
The following will appear:
ENTER CONVERSION DATE- HIT ENTER FOR CURPRDATE :
- Type the pay date or the ex-distribution date on which the transaction is effective and press
Enter ↵
The following will appear:
ENTER NUMBER OF OLD SHARES:
- Type the number of shares of the old security that should be converted and press
Enter ↵
The following will appear:
ENTER NUMBER OF NEW SHARES:
- Type the number of shares of the new security that should be received and press
Enter ↵
A trades batch is created, delivering out the old security at a per share cost based on the price entered in (7) multiplied by the total number of shares held of that security. The new security is received in with a value of the price entered in (7) multiplied by the number of units that are received. The original cost of the old security is carried over as the original cost for the new security.
The following is an example of how EDPORT will look after a name change, merger, reverse split, or conversion has been processed. This example applies to a corporate action processed by APL or by using POSTSECCONV.
Level 1 - The COST for the new position is the same as the cost of the original security and the original purchase date remains the same.
Level 2 - The original position is delivered out using the price entered in question step7. The date and amount in the DDATE and DPROC fields should be the same for the RDATE and RCOST fields.
Level 3 – Broker fields are coded with REORG to easily identify these positions as part of a corporate action.
Important: All information should be checked before posting the batch. If any changes need to be made because of incorrect information, delete the original batch using DELBATCH and rerun the function.