Understanding dedicated corporate action events

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LUSID is transitioning to a system where each kind of corporate action has a dedicated event, enabling you to handle those events in a seamless and consistent manner for instruments of type Equity.

Important: Corporate action events are disabled by default. To enable them, register a recipe with every portfolio you wish events to impact. More information.

For example, LUSID emits a CashDividendEvent on the ex-date providing you have manually loaded a cash dividend corporate action in time into a source registered with the parent portfolio. In addition:

  • LUSID provides a CashDividendEvent default transaction template that automatically generates a transaction representing the cash dividend amount. You can override this default template if you wish, but it is not necessary.

  • You must implement a DividendIncome transaction type to confer a suitable economic impact on this automatically-generated transaction. We provide a recommendation, which you can either implement as-is or change if desired.

Note: Term instruments such as bonds, swaps, options and futures that mature and therefore have an intrinsic lifecycle automatically trigger LUSID to emit events. More information.

With this transaction type in place, and for each portfolio subscribed to the corporate action source and with a holding on the ex-date, LUSID automatically:

  • Generates an output transaction scaled to your holding in that portfolio, and enriched with extra information such as gain/loss or a tax calculation.

  • Implements the economic impact prescribed by the transaction type, for example adding the dividend amount to a particular cash balance.

Note you can override an event for a particular portfolio by loading an event instruction.

Recommended reading: Handling a cash dividend corporate action event

The following dedicated events are available or planned for instruments of type Equity and SimpleInstrument. For more information, start by calling the GetTransactionTemplateSpecification API for that event. If a particular event is not available yet, you can continue modelling any kind of corporate action as a TransitionEvent.

Corporate action

Dedicated event emitted by LUSID

Participation

Elections

Transaction types requiring implementation (click for recommendations)

Notes (see also Troubleshooting)

Status

Accumulation (ACCU)

AccumulationEvent

Mandatory

Cash

FundAccumulationIncome

Available

Bonus issue (BONU)

BonusIssueEvent

Mandatory

Security

Available

Mandatory with choices

Cash, Security, Lapse

Call on intermediate securities (EXRI)

CallOnIntermediateSecuritiesEvent

Mandatory with choices

Option exercise, Lapse

Available

Capital distribution (CAPD)

CapitalDistributionEvent

Mandatory

Cash

DividendIncome

Available

Mandatory with choices

Cash (choice of currencies)

Cash dividend (DVCA)

CashDividendEvent

Mandatory

Cash

DividendIncome

For an example, see this tutorial

Available

Mandatory with choices

Cash (choice of currencies)

Dividend option (DVOP)

DividendOptionEvent

Mandatory with choices

Security or cash

Available

Dividend reinvestment (DRIP)

DividendReinvestmentEvent

Mandatory with choices

Security or cash

Available

Intermediate securities distribution event (RHDI)

IntermediateSecuritiesDistributionEvent

Mandatory

Security

Available

Merger (MRGR)

MergerEvent

Mandatory

Security or cash & security

Available

Mandatory with choices

Security, cash & security, cash

Repurchase Offer/Issuer Bid/Reverse Rights

(BIDS)

RepurchaseOfferEvent

Voluntary

Cash or tender

  • RepurchaseOfferEventChooseCash (if cash)

  • RepurchaseOfferEventChooseTender (if tender)

Available

Reverse stock split (SPLR)

ReverseStockSplitEvent

Mandatory

Security

Available

Scrip dividend (DVSC)

ScripDividendEvent

Mandatory

Security

Available

Spin-off (SOFF)

SpinOffEvent

Mandatory

Security

Available

Stock dividend (DVSE)

StockDividendEvent

Mandatory

Security

Available

Stock split (SPLF)

StockSplitEvent

Mandatory

Security

Available

Payment in kind (PINK)

TBD

Mandatory

Security

TBD

Roadmap

Mandatory

Other

Financial default (DFLT)

TBD

TBD

TBD

TBD

Q2 2025

Tender/Takeover (TEND)

TenderEvent

Mandatory, Voluntary

Security, Cash & security, Cash

Available

Conversion (CONV)

TBD

TBD

TBD

TBD

Q2 2025

Dutch auction (DTCH)

TBD

TBD

TBD

TBD

Roadmap

Delisting (DLST)

TBD

TBD

TBD

TBD

Roadmap

Liquidation (LIQU)

TBD

TBD

TBD

TBD

Roadmap