APL > APL Documentation > Reference Materials > APL Corporate Actions & Cash and Capital Adjustments (Reorgs)
APL Corporate Actions & Cash and Capital Adjustments (Reorgs)
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General Notes
| Processing Standards |
|---|
| IS does not automatically process
reorgs on unlisted securities. We
process stock splits on ex-date; some
clients have control jobs set up to
process on the night before ex-date.
(refer to “what we process” or a
complete list).
|
| If a “reorg” is not processed, user can
use one of the functions to process or
user can send mail to
cis-reorg@fiserv.com using
the CAPITAL CHANGES / REORGS
forms in MAILBOX.
|
| Data Sources |
|---|
| Financial Times Interactive Data
provides information on stock splits,
stock dividends and cash dividends. |
| Xcitek provides information on name
changes, mergers, distributions and
tenders. |
Corporate Actions
| Processing Standards |
|---|
| IS processes name changes, mergers,
reverse splits, mandatory tenders and
distributions on listed securities. These
transactions are processed on or as
close to effective date as possible |
| Information Retrieval |
|---|
| LOOKUPREORG |
Allows the user to
look up details on a reorg that has
been processed. |
| LOOKUPSPLIT |
Allows the user to see
stock splits and dividends that have
been processed. This function / report
combines the functionality of PRCAP
and PRCAPAC which can also be run
separately. |
| Functions |
|---|
| POSTDIST |
Process non-taxable
distributions. |
| POSTDIVSEL |
Process cash dividends
for all accounts for only one security. |
| POSTDISTMULT |
Process non-
taxable distributions involving more
than two new securities. |
| POSTSECCONV |
Process name
changes, mergers, reverse splits, and
bond conversions involving two
securities. |
| POSTSECCONVINPUT |
Process
similar to POSTSECCONV, however
creates a control job that will post the
batch that night. |
| POSTSECMULT |
Process name
changes, mergers, reverse splits and
bond conversions involving more than
two securities. |
| POSTSECLOT |
Process security
lottery conversions involving two
securities. |
| POSTSECPERCENT |
Process
conversions by percent, convert only a
percentage of the original holding to the
new position. |
| POSTTENDER |
Process cash tenders.
|
| FOREIGNDIV |
Process foreign
dividends and the foreign tax
withholding when the net dividend has
been posted.
|
| POSTROC & POSTROCEX |
Process
the delivery of a position and receive it
back in with the COST being the original
cost minus the return of capital amount. |
| POSTROP |
Process a return of
principal transaction. |
Capital Adjustments
| Processing Standards |
|---|
| IS processes stock splits and
dividends for all listed securities.
Transactions are typically processed on
the night of the ex-date but can be
processed on the morning of the
ex-date by request.
|
| Functions |
|---|
| STOCKSPLIT |
Process a stock split
or dividend.
|
| EDDPR |
Allows a user to
edit the DIV4, REC4 and PAY4 fields
with the most recent data and it
automatically adjusts the DIV1-3,
REC1-3 and PAY1-3 fields. |
| Fields |
|---|
|
Stock split / dividend updates for a
security can be blocked by coding the
first character of the PFLAGS
security master field in the following
manner:
I = Do not update INDIV field
D = Do not update DIV / REC / PAY
fields B = Do not update the INDIV or
DIV / REC / PAY fields
|
| Accounts can be blocked from
processing dividends by coding the
BASEAC field with -9999. |
| Reports |
|---|
| AUTOCP.PRT |
Daily report
displaying any stock split or dividend
processed the night before. This will
also show duplicate securities being
moved from one SACUS to another. |
| ALERTSTATUS |
Allows the user to
see a list of accounts that hold
securities with pending or late reorgs
to be posted.
This function / report combines
PENDREORGS and LATEREORGS,
which can also be run separately. |
| CAPHST.PRT |
Daily report displaying
any corporate actions processed the
night before. |
Cash Adjustments
| Processing Standards |
|---|
| IS processes cash dividends for all listed
securities. Although Cash
Adjustments are not typically part of
the “reorg” process, requests are
sometimes processed. |
| Information Retrieval |
|---|
| SCREENSEC |
Allows user to see the
two most recent dividends. |
| EDITSEC and EDSEC |
Allow users to
pull up and view all dividend fields
(DIV / REC / PAY 1-4). |
| What we process |
|---|
| Name changes. |
| Reverse splits. |
| Mergers and Acquisitions. |
| Conversions. |
| Taxable and Non-Taxable Distributions. |
| Plans of reorganization. |
| Mandatory taxable and non-taxable Exchanges. |
| Transferable rights offerings. |
| Cash dividends. |
| Fields |
|---|
| Accounts can be blocked from
processing dividends by coding the
BASEAC field with -9999. |
|
Cash dividend and stock split/
dividend updates for a security can be
blocked by coding the first character of
the PFLAGS security master field in
the following manner:
I = Do not update INDIV field
D = Do not update DIV / REC / PAY
fields B = Do not update the INDIV or
DIV / REC / PAY fields
|
| Functions |
|---|
| EDDPR |
Allows a user to
edit the DIV4, REC4 and PAY4 fields
with the most recent data and it
automatically adjusts the DIV1-3,
REC1-3 and PAY1-3 fields. |
| POSTCAPGAIN |
Process capital
gain with the option of re-investing. |
| POSTROC |
Manually process return of
capital. |
| POSTROCEX |
Manually process
return of capital, based on ex-date. |
| POSTROCAUTO |
Automatic
processing of return of capital. |
| DVRAUTO |
Process reinvested
dividend. |
| POSTDIVSEL |
Process cash dividends. |
| FOREIGNDIVS |
Process cash
dividends for foreign securities. |