Market Structure · Post-trade
Corporate Actions & Breaks
Dividends, splits, mergers, tenders, bond calls and pay-downs change positions and cash on specific dates. The dates that matter, mandatory vs voluntary events, how T+1 changed ex-dates, and the breaks corporate actions create in ops.
Step 1 of 7 · Overview35 min read ·
Key idea
Prereqs: Clearing & settlement. Next: Capstone: break-triage agent (CS). Follows DTCC corporate-actions materials, the OCC's adjustment rules for options and ISO 15022 messaging (MT564/MT566).Next: 1. What a corporate action is