CATS applies a standard approach to Corporate Action Processing, with all event types processed through the CATS lifecycle

Processing

Event Capture and Cleansing

CA announcements and updates are captured from various data providers.

Diary and 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.

Reconciliation

Entitled stock record and generated outcomes are reconciled automatically. Any reconciliation issues create exceptions.