Understanding dedicated corporate action events

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.

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 for an Equity instrument providing you have manually loaded that corporate action in time into a source registered with the parent portfolio. In addition, we provide:

A CashDividendEvent default transaction template that automatically generates a transaction for the cash dividend amount. We recommend using this default template to get started, but you can create your own.
A recommendation for a DividendIncome transaction type that confers a suitable economic impact for a transaction representing a cash dividend. You can implement our recommendation, or specify your own.

Note: Instruments other than Equity that mature and therefore have an intrinsic lifecycle automatically trigger LUSID to emit events. More information.

For each portfolio subscribed to the corporate action source and with a holding on the ex-date, LUSID automatically:

Generates an output transaction from the transaction template 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	Participation	Election(s)	Transaction type(s) mandated by default transaction template *	Notes (see also Troubleshooting)	Status
Accumulation (ACCU)	`AccumulationEvent`	Mandatory	Cash	FundAccumulationIncome		Available
Bonus issue (BONU)	`BonusIssueEvent`	Mandatory	Security	BonusIssueAdditionalUnits (if cash or security) BonusIssueCashInLieu (if security and fractional units) BonusIssueCashOffer (if cash)		Available
Bonus issue (BONU)	`BonusIssueEvent`	Mandatory with choices	Cash, Security, Lapse			Available
Call on intermediate securities (EXRI)	`CallOnIntermediateSecuritiesEvent`	Mandatory with choices	Option exercise, Lapse	ExerciseIntermediateSecurities (if option exercise) ExpireIntermediateSecurities		Available
Capital distribution (CAPD)	`CapitalDistributionEvent`	Mandatory	Cash	DividendIncome		Available
Capital distribution (CAPD)	`CapitalDistributionEvent`	Mandatory with choices	Cash (choice of currencies)	DividendIncome		Available
Cash dividend (DVCA)	`CashDividendEvent`	Mandatory	Cash	DividendIncome	For an example, see this tutorial	Available
Cash dividend (DVCA)	`CashDividendEvent`	Mandatory with choices	Cash (choice of currencies)	DividendIncome	For an example, see this tutorial	Available
Dividend option (DVOP)	`DividendOptionEvent`	Mandatory with choices	Security or cash	DvopCashIncome DvopSecurityOption (if security)		Available
Dividend reinvestment (DRIP)	`DividendReinvestmentEvent`	Mandatory with choices	Security or cash	DripCashIncome DripSecurityReinvestment (if security)		Available
Intermediate securities distribution event (RHDI)	`IntermediateSecuritiesDistributionEvent`	Mandatory	Security	IntermediateSecurityUnits IntermediateSecurityCashInLieu (if fractional units)		Available
Merger (MRGR)	`MergerEvent`	Mandatory	Security or cash & security	MergerRemoveExisting (if security) MergerAdjustCost (if cash & security) MergerReceiveCash (if cash or cash & security) MergerReceiveUnits (if security or cash & security) MergerCashInLieu (if fractional units)		Available
Merger (MRGR)	`MergerEvent`	Mandatory with choices	Security, cash & security, cash			Available
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	ReverseStockSplitUnitReduction ReverseStockSplitCashInLieu (if fractional units)		Available
Scrip dividend (DVSC)	`ScripDividendEvent`	Mandatory	Security	ScripDividendAdditionalUnits ScripDividendCashInLieu (if fractional units)		Available
Spin-off (SOFF)	`SpinOffEvent`	Mandatory	Security	SpinOffAdjustCost SpinOffNewUnits SpinOffCashInLieu (if fractional units)		Available
Stock dividend (DVSE)	`StockDividendEvent`	Mandatory	Security	StockDividendAdditionalUnits StockDividendCashInLieu (if fractional units)		Available
Stock split (SPLF)	`StockSplitEvent`	Mandatory	Security	StockSplitAdditionalUnits StockSplitCashInLieu (if fractional units)		Available
Payment in kind (PINK)	TBD	Mandatory	Security	TBD		Roadmap
Payment in kind (PINK)	TBD	Mandatory	Other	TBD		Roadmap
Financial default (DFLT)	TBD	TBD	TBD	TBD		Q2 2025
Tender/Takeover (TEND)	`TenderEvent`	Mandatory, Voluntary	Security, Cash & security, Cash	`TenderRemoveExisting` (if security) `TenderAdjustCost` (if cash & security) `TenderReceiveCash` (if cash or cash & security) `TenderReceiveUnits` (if security or cash & security) `TenderCashInLieu` (if fractional units)		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

* If you use the default transaction template for an event you must ensure the transaction type(s) exists in the default scope and source. You can nominate a different transaction type, perhaps in another scope and source, by creating your own custom transaction template.