Advanced Corporate Actions
March 29, 2012 June 13, 2012
Registration Fee: US$895.00 Register Location Instructor
Many classes sell out; we suggest registering at least one week in advance to ensure availability.
Advanced Level, 7 CPE Credits
Instructor: Stanley D. Monsowitz
Hours: 9:00 am - 5:00 pm; Registration/Breakfast begins at 8:30 am
Location: New York City, Bayard's, One Hanover Square
Objectives of this class:
- Understand all aspects of Corporate Actions, including Voluntary, Mandatory and Mandatory with Choice Corporate Actions
- Understand the DTCC & OMGEO updates for Corporate Actions
- Understand the new Proxy Concept Release
- Understand the new Industry Initiatives currently happening in our industry
- Understand the concept and use of Actual vs. Contractual settlement of Corporate Actions
- Understand trade and settlement cycles, and how they affect Corporate Actions
- Understand Trade Processing and Trade matching against Corporate Actions
- Understand Corporate Action Arbitrage
- Describe the reasons why Corporate Actions cause Fails and discuss how to create an environment to avoid future Fails
- STP implications and automated exception processing for Corporate Action Fails
- Assuming responsibility for Fails and Risk mitigation
- Understand the issues and financial impact of Corporate Action Fails – Cost Center vs. Profit Center
- Understand how the “new” Operations Risk and BASEL III requirements effect Corporate Actions processing
Session One - Introduction and Program Objectives
- The Course Director will present a brief overview of the program
- The delegates introduce each other & review the objectives for the course
- Introduce & begin Glossary, where necessary
Session Two - Identifying Corporate Actions
Session objective: To understand the multitude of Corporate Actions and why these are so difficult to implement and why they cause the most amount of “Fails”
- Identify all Voluntary corporate Actions
- Identify all mandatory Corporate Actions
- Identify all mandatory with Choice Corporate Actions
- DTCC processing of Corporate Actions
- CDS processing of Corporate Actions
- Global CSD’s processing of Corporate Actions
Session Three - Generation of Advanced Corporate Action Transactions
Session objective: To review and understand who generates all the Advanced & “normal” Corporate Actions described above the their purposes
Session Four - Trade Processing, including Corporate Actions
Session objective: To understand how the processing of Corporate Actions fits into the overall Transaction Processing structure
- Trade Processing and Trade Matching against Corporate Actions
- Global Depositories and how they report Corporate Actions
- DTCC vs. European CSD’s and CDS
Session Five - Fails of Corporate Actions and their Avoidance
Session objective: To understand the Operations of Corporate Actions and how to AVOID Corporate Action and Trade Processing Fails
- The impact and cost of Fails to the organization
- Designing a Fails avoidance operation
- Financing and calculating the COST of Corporate Action Fails
Session Six - STP and Corporate Actions Automation
Session objective: To understand the implications of automation on Corporate Action processing
- STP implications for Corporate Actions Processing and Integration
- Automate Fails Processing for Corporate Actions
- Automate exception processing only (for manual intervention)
Session Seven - Final Review and Wrap-up
- Review class information and allow for any final questions and discussion
- “Visioning Session”