Module
Corporate actions — A bonus is declared. Every affected holding restates overnight.
Without it
What this costs you today.
Without it, a bonus issue means finding every client who holds the instrument and adjusting each one by hand. Miss one and their statement is wrong until somebody notices, which is usually the client.
What it does
Business rules, not adjectives.
Dividends, bonuses, splits and mergers apply to every affected holding automatically.
Cost basis adjusts with the action rather than staying at the pre-action figure.
Coupon payments and redemptions post against fixed income holdings.
The action is recorded against the position, so the history explains the change.
Affected clients can be listed before the action is applied.
On screen
Corporate actions, as it ships.
Coverage
Which product classes this covers.
Mutual funds and listed equity carry full corporate action handling. Fixed income carries coupon and redemption events. Non-unitised classes generally have no corporate actions to apply, and the coverage matrix says so.
How it works
Three or four steps, in order.
The action is received
From the feed or recorded directly.
Affected holdings are identified
Every client, every account, across the book.
Positions restate
Units and cost basis adjust, with the action in the history.
Adjacent modules
What this works with.
Questions about corporate actions.
Do I have to apply corporate actions manually?
No. That is the entire point of the module — a declared action restates every affected holding rather than requiring you to find them.