Processing
CATS applies a standard approach to Corporate Action Processing, with all event types processed through the CATS lifecycle.
Event Capture and Cleansing
CA announcements and updates are captured from various data providers.
Diary Tasks
Tasks are created for each event, based on configured rules. Open tasks are allocated and tracked until completion.
Entitled Stock Record
Using market rules, trades and positions are analysed to create an entitled stock record for relevant events.
Entitlement Calculation
The entitled stock record is the basis for calculations. Potential entitlements, taxes and transformations are calculated for each outcome.
Election Decisions
For each entitled holder, full or partial elections can be made against any or all options. Incomplete elections at the deadline date will revert to a default action.
Outcome Generation
Outcomes (cash and stock) are generated based on entitlement calculations, election decisions, and configured rules.
The Process
Reconciliation
Entitled stock record and generated outcomes are reconciled automatically. Any reconciliation issues create exceptions.
Notifications
CA announcements, holder notifications, entitlements and outcomes are sent to interested parties.
Claims and Risk
Open claims can be grouped, notified and tracked, automatically or manually. Outstanding cash claims are reportable in either claim or local currency.
Outcome Settlement
Receipts or payments (cash or stock) may be handled automatically or manually. Small cash amounts can be written off.
Reports
Standard reports and searches are provided. Tools are available for development of bespoke reports.
Other
Business entity specific functionality can be integrated into the CATS framework.