Corporate actions are in its simplest terms actions taken by the corporate. Processing corporate actions relies in part on having a good understanding of them, the trade lifecycle and position management. 

The management of Corporate Actions is a key operational function and many staff joining Corporate Actions departments have little understanding of the activities of their new department. This course begins with an understanding of what corporate actions are and why they happen and takes attendees through the main types, in a logical way, explaining industry jargon along the way. 

We discover the:  

• Relationship between corporate finance and corporate actions
• The market participants involved in corporate actions
• Discover 50 different types of corporate actions. 
• A structured approach to getting to grips with corporate actions. 
• The financial instruments are affected by corporate actions.
• Understand the reasons for corporate actions (both equity and debt)
• You will learn about the corporate actions resulting from capital restructuring, rewarding shareholders, Debt management, the competitive environment, governance, regulation and tax, Liquidation & default and trading, exercising and processing.
• The processing life cycle
• The event creation process
• The processing flow
• Reporting to participants
• Messaging types, MT564, MT565, MR566, MT567, MT568.
• Target 2 Securities

What you will learn

You will learn the diversity of corporate actions, and how these corporate actions are processed from announcements through to settlements for mandatory and voluntary events. How the industry operates globally, the risk involved of non-processing, the diversity of market participants and market practices employed. The changes in the industry and Target 2 Securities.

Course format

Practice-based learning and critical engagement is a key theme through all of our courses allowing delegates to acquire the needed skills and techniques to be applied as soon as they are learned and developed.

The course material will be available on the day and online, including a discussion forum allowing delegates to raise issues, during or after the training dates.

• Corporate actions specialists who want to deepen event processing expertise.
• Securities operations teams handling announcements, entitlements, and settlements.
• Custody, clearing, and settlement professionals managing post-trade workflows.
• Back-office and middle-office staff responsible for operational accuracy and controls.
• Asset servicing and fund administration teams processing investor events.
• Bankers and financial services professionals working with securities servicing functions.
• Compliance and risk professionals overseeing operational risk in corporate actions.
• Technology professionals supporting SWIFT messaging, Target2-Securities, or custody platforms.
• Managers leading securities operations teams or transformation programmes.
• Professionals who need a practical end-to-end understanding of corporate actions processing

09:00 – 10:15 | Corporate Actions Introduction:

• Definition of Corporate actions.
• What are they?
• Why do they occur?
• Who is involved?
• The complexity
• The market differences

10:15 – 10:30 | Morning Break

10:30 – 11:30 | Corporate Finance and Corporate Actions:

• Back to the Roots
• Corporate Finance Principles
• The Debt / Equity Structure
• Finance decisions resulting in Corporate Actions.

11:30 – 12:00 | Financial Instruments:

• Equity, Debt, Derivatives & Rights.

12:00 – 13:00 | The Market Participants:

• Understanding the Market Participants
• The Different roles of the market participants
• Market Participants and the processing chain

13:00 – 14:00 | Lunch Break

14:00 – 15:15 | CA Types and structure:

• Exploring +/- 50 different types of CA
• Structuring and classifying corporate actions:
• From a Treasury perspective
• From a Corporate Finance perspective

15:15 – 15:30 | Afternoon Break

15:30 – 17:00 | Corporate actions in detail:

• CA - from debt management
• CA - shareholders reward
• CA - From Competitive Environment
• CA - From Capital Restructuring
• CA - Governance, Regulation and Tax
• CA - Liquidation and Default
• CA - Trading and Processing

09:00 – 10:00 | Internal Processing of Corporate actions:

• Introduction to processing
• Risks in corporate actions processing

10:00 – 11:00 | The Processing Life Cycle:

• Announcement and creation
• Processing and Accounting
• Reporting to Participants.

11:00 – 11:15 | Morning Break

11:15 – 12:00 | The Event Creation Process:

• Capturing the Announcement
• Setting up the Event
• Security balances

12:00 – 13:00 | The Processing Flow:

• Calculate the entitlement
• Event Timing
• Payments and Accounting
• Reconciliation

13:00 – 14:00 | Lunch Break

14:00 – 14:45 | Reporting to participants:

• Notifications
• Instruction status
• Confirmation
• Market Claims
• Reverse Payments.

14:45 – 15:15 | Tax Management and Proxy Voting:

• Proxy voting
• Tax

15:15 – 15:30 | Afternoon Break

15:30 – 16:15 | Introduction to SWIFT:

• MT564
• MT565
• MT566
• MT567
• MT568

16:15 – 17:00 | A Changing Landscape:

• Target 2 securities
• The industry and industry standards

• “An excellent course with clear explanations of complex corporate actions. The practical approach made it very relevant to my daily work.” – Emma D., Securities Operations Manager
• “Highly professional training that gave me a much better understanding of processing flows, SWIFT messaging, and market practices.” – Michael T., Custody Specialist
• “Very informative and engaging. I now feel far more confident handling corporate action events and related risks.” – Sophie L., Asset Servicing Analyst