1. market announcement 2. event data collection and validation 3. calculation of event entitlement and notification to investors 4. response-gathering and instruction 5. payment and claims 6. post payment reconciliation
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Swifts
MT564=notification MT565=instruction MT566=confirmation MT567=status and advice MT568=narrative MT599=free format
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Data scrubbing
selection of raw data
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Cum vs Ex dividend
a holder of shares bought cum dividend is entitled to a dividend whereas a holder of shares bought ex-dividend is not
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Agent deadline
usually earlier than market deadline
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Issuer deadline
coincides with market deadline, but set by issuer
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Market deadline
final time to respond
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Deposit deadline
protection deadline - where securities need to be lodged in a particular account for an event to take place
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Buyer protect deadline
where not yet recieved securities can instruct the delivering counterparty what action to take
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Responsible endeavours
mean if the client has failed to response by the deadline date the firm will do its best for the client, but it is not finacially responsible for the client's error
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Arbitage
simultaneoas purchase and sale of the same product in different markets, e.g. ADRs, convertible bonds, warrants, futures, options
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Other cards in this set
Card 2
Front
MT564=notification MT565=instruction MT566=confirmation MT567=status and advice MT568=narrative MT599=free format
Back
Swifts
Card 3
Front
selection of raw data
Back
Card 4
Front
a holder of shares bought cum dividend is entitled to a dividend whereas a holder of shares bought ex-dividend is not
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