From 3d0f7fe2b83c643e8dd3037511ec0d40053cd8d6 Mon Sep 17 00:00:00 2001 From: Elisa Kendall Date: Thu, 23 Dec 2021 15:49:17 -0800 Subject: [PATCH] IND-113 #comment - addressed feedback, eliminated additional duplication with credit events in the security related actions and credit default swaps ontologies Signed-off-by: Elisa Kendall --- CAE/CorporateEvents/CorporateActions.rdf | 14 +-- .../SecurityRelatedCorporateActions.rdf | 101 +++++++++--------- DER/CreditDerivatives/CreditDefaultSwaps.rdf | 28 +++-- 3 files changed, 62 insertions(+), 81 deletions(-) diff --git a/CAE/CorporateEvents/CorporateActions.rdf b/CAE/CorporateEvents/CorporateActions.rdf index 8fa5622dc..36fd89b9e 100644 --- a/CAE/CorporateEvents/CorporateActions.rdf +++ b/CAE/CorporateEvents/CorporateActions.rdf @@ -109,8 +109,8 @@ + - @@ -131,12 +131,6 @@ - - - - - - @@ -148,12 +142,6 @@ ISO 15022 classifies events as impacting income vs. others. Other classification schemes distinguish between actions that return profits to shareholders, actions that are designed to influence the share price, and actions involving a change in structure to the issuer organization. - - - business strategy-oriented action - classifier of corporate actions that involves improving liquidity or changing the overall structure of the organization through diversification, combining and closing parts of the business, etc, to increase long-term profitability - - change action diff --git a/CAE/CorporateEvents/SecurityRelatedCorporateActions.rdf b/CAE/CorporateEvents/SecurityRelatedCorporateActions.rdf index c023ebd53..0faf1d9d8 100644 --- a/CAE/CorporateEvents/SecurityRelatedCorporateActions.rdf +++ b/CAE/CorporateEvents/SecurityRelatedCorporateActions.rdf @@ -80,7 +80,7 @@ - + BIDS SWIFT ISO 15022 classifier for corporate actions in which an offer is made to existing shareholders by the issuing company to repurchase equity or other securities convertible into equity @@ -91,7 +91,7 @@ - + BONU SWIFT ISO 15022 classifier for corporate actions in which security holders are awarded additional assets free of payment from the issuer in proportion to their holding @@ -102,7 +102,7 @@ - + BPUT SWIFT ISO 15022 classifier for corporate actions that involve early redemption of a security at the election of the holder subject to the terms and condition of the issue with no reduction in nominal value @@ -147,6 +147,12 @@ Event in which shares are issued from the Share Premium Reserve of the company and are considered as a capital distribution rather than a disbursement of income, with different tax implications. SWIFT Definition (adapted above) "Typically found in Australia, shares are issued from the Share Premium Reserve of the company and are considered as a capital distribution rather than a disbursement of income, with different tax implications." To be researches further. There are certainly Share Plans in Australia, where you can take a dividend as shares. Thewse would be in the nature of Bonus Shares. They are a tradeoff from cash dividends. Other terms to model: A "Scheme of Arrangment" - does this change the capital reserves or is it just another word for restructure. An arrangement with the company's debtors, and coule potentially change the capital base by converting the debt to shares (see other diagram note with these in). + + + business strategy classifier + classifier of corporate actions that involves improving liquidity or changing the overall structure of the organization through diversification, combining and closing parts of the business, etc, to increase long-term profitability + + CAPD @@ -170,7 +176,7 @@ - + CHAN SWIFT ISO 15022 classifier for corporate actions that disseminate information regarding a change further described in the corporate action details @@ -181,7 +187,7 @@ - + CLSA SWIFT ISO 15022 classifier for corporate actions involving a situation where interested parties seek restitution for financial loss @@ -192,7 +198,7 @@ - + CONS SWIFT ISO 15022 classifier for corporate actions that involve procedures aiming to obtain consent of holder to a proposal by the issuer or a third party without convening a meeting @@ -203,7 +209,7 @@ - + CONV SWIFT ISO 15022 classifier for corporate actions that involve conversion of securities (generally convertible bonds or preferred shares) into another form of securities (usually common shares) at a pre-stated price/ratio @@ -340,7 +346,7 @@ - + DFLT SWIFT ISO 15022 classifier for corporate actions that indicate a failure by the issuer to perform obligations defined as default events under the bond agreement and that have not been remedied @@ -351,7 +357,7 @@ - + DRIP SWIFT ISO 15022 classifier for corporate actions that involve a dividend payment whereby holders can keep cash or have the cash reinvested into additional shares in the issuing company @@ -362,7 +368,7 @@ - + DSCL SWIFT ISO 15022 classifier for corporate actions that involve a requirement for holders or beneficial owners to disclose their name, location and holdings of any issue to the issuer @@ -373,7 +379,7 @@ - + DTCH SWIFT ISO 15022 classifier for corporate actions involving parties wishing to acquire a security @@ -395,7 +401,7 @@ - + DVOP SWIFT ISO 15022 classifier for corporate actions that involve distribution of a dividend to shareholders with a choice of benefit to receive @@ -406,7 +412,7 @@ - + DVSE SWIFT ISO 15022 classifier for corporate actions that involve distribution of a dividend to shareholders in the form of equities of the issuing corporation @@ -452,7 +458,7 @@ - + EXOF SWIFT ISO 15022 classifier for corporate actions that reflect an exchange of holdings for other securities and/or cash @@ -463,7 +469,7 @@ - + EXRI SWIFT ISO 15022 classifier for corporate actions that involve a call or exercise on nil paid securities or intermediate securities resulting from an intermediate securities distribution (RHDI) @@ -474,18 +480,18 @@ - + EXTM SWIFT ISO 15022 classifier for corporate actions that involve prolonging the maturity date of a bond - - + + EXTM - + EXWA SWIFT ISO 15022 classifier for corporate actions that offer holders the option to buy (call warrant) or to sell (put warrant) a specific amount of stock, cash, or commodity, at a predetermined price, during a predetermined period of time @@ -531,7 +537,7 @@ - + INFO SWIFT ISO 15022 classifier for corporate actions involving information provided by the issuer having no accounting/financial impact on the holder @@ -558,9 +564,9 @@ scheme for classifying corporate actions according to ISO 15022 Securities - Scheme for Messages (Data Field Dictionary) - + - income-oriented action + income-oriented classifier classifier of corporate actions that impacts income to shareholders Cash dividends are a classic example where a public company declares a dividend to be paid on each outstanding share. Bonus is another case where the shareholder is rewarded. In a stricter sense, the bonus issue should not impact the share price but in reality, in rare cases, it does and results in an overall increase in value. @@ -605,7 +611,7 @@ - + LIQU SWIFT ISO 15022 classifier for corporate actions consisting of distribution of cash, assets, or both @@ -622,7 +628,7 @@ - + MCAL SWIFT ISO 15022 classifier for corporate actions that involve redemption of an entire issue outstanding of securities prior to maturity @@ -633,7 +639,7 @@ - + MRGR SWIFT ISO 15022 classifier for corporate actions that involve the exchange of outstanding securities, initiated by the issuer which may include options, as the result of two or more companies combining assets, that is, an external, third party company @@ -643,19 +649,6 @@ - - - - - - - - - maturity extension - corporate action that, as stipulated in a bond's terms and conditions, the issuer or the bondholder may prolong the maturity date of a bond - After extension, the security may differ from original issue (new rate or maturity date). May be subject to bondholder's approval. May be mandatory or voluntary, depending on who initiates it and the surrounding circumstances. - - odd lot offer @@ -663,7 +656,7 @@ - + PARI SWIFT ISO 15022 classifier for corporate actions that occur when securities with different characteristics become identical in all respects @@ -674,7 +667,7 @@ - + PCAL SWIFT ISO 15022 classifier for corporate actions that involve redemption of securities in part before their scheduled final maturity date with reduction of the nominal value of the securities @@ -685,7 +678,7 @@ - + PRED SWIFT ISO 15022 classifier for corporate actions that involve redemption of securities in part before their scheduled final maturity date with no reduction in nominal value @@ -696,7 +689,7 @@ - + PRIO SWIFT ISO 15022 classifier for corporate actions that involve a public offer where priority is given to existing shareholders @@ -762,7 +755,7 @@ - + REDM SWIFT ISO 15022 classifier for corporate actions that involve redemption of an entire issue outstanding of securities at final maturity @@ -773,7 +766,7 @@ - + REDO SWIFT ISO 15022 classifier for corporate actions by which the unit (currency and/or nominal) of a security is restated @@ -784,7 +777,7 @@ - + RHDI SWIFT ISO 15022 classifier for corporate actions involving the distribution of intermediate securities or privilege that gives the holder the right to take part in a future event @@ -839,7 +832,7 @@ - + SHPR SWIFT ISO 15022 classifier for corporate actions that pay shareholders an amount in cash issued from the shares premium reserve @@ -850,7 +843,7 @@ - + SOFF SWIFT ISO 15022 classifier for corporate actions that involve the distribution of subsidiary stock to the shareholders of the parent company without a surrender of shares @@ -861,7 +854,7 @@ - + SPLF SWIFT ISO 15022 classifier for corporate actions that involve an increase in a corporation's number of outstanding equities without any change in the shareholder's equity or the aggregate market value at the time of the split @@ -872,7 +865,7 @@ - + SPLR SWIFT ISO 15022 classifier for corporate actions that involve a decrease in a company's number of outstanding equities without any change in the shareholder's equity or the aggregate market value at the time of the split @@ -911,7 +904,7 @@ - + TEND SWIFT ISO 15022 classifier for corporate actions involving information provided by the issuer having no accounting/financial impact on the holder @@ -969,8 +962,8 @@ - - + + WRTH SWIFT ISO 15022 classifier for corporate actions that involve booking out of valueless securities @@ -1004,5 +997,9 @@ + + + + \ No newline at end of file diff --git a/DER/CreditDerivatives/CreditDefaultSwaps.rdf b/DER/CreditDerivatives/CreditDefaultSwaps.rdf index ad709e2f0..ef2a5fa91 100644 --- a/DER/CreditDerivatives/CreditDefaultSwaps.rdf +++ b/DER/CreditDerivatives/CreditDefaultSwaps.rdf @@ -542,20 +542,6 @@ If more than one party is referenced as being the notifying party (in the CDS contract) then either party may notify the other of a credit event occurring. That is, this party may be either party to the CDS Contract. ISDA 2003 Term: Notifying Party. FpML Full Definition: 'Pointer style references to a party identifier defined elsewhere in the document. The notifying party is the party that notifies the other party when a credit event has occurred by means of a credit event notice. If more than one party is referenced as being the notifying party then either party may notify the other of a credit event occurring. ISDA 2003 Term: Notifying Party.' - - - obligation acceleration - One or more of the obligations have been declared due and payable before they would otherwise have been due and payable as a result of, or on the basis of, the occurrence of a default, event of default or other similar condition or event other than failure to pay - Preferred by the market over Obligation Default, because more definitive and encompasses the definition of Obligation Default - this is more favorable to the Seller. Subject to the default requirement amount. This is a Credit Event. ISDA 2003 Term: Obligation Acceleration. FpML full definition: 'A credit event. One or more of the obligations have been declared due and payable before they would otherwise have been due and payable as a result of, or on the basis of, the occurrence of a default, event of default or other similar condition or event other than failure to pay (preferred by the market over Obligation Default, because more definitive and encompasses the definition of Obligation Default - this is more favorable to the Seller). Subject to the default requirement amount. ISDA 2003 Term: Obligation Acceleration.' - - - - - obligation default - One or more of the obligations have become capable of being declared due and payable before they would otherwise have been due and payable as a result of, or on the basis of, the occurrence of a default, event of default or other similar condition or event other than failure to pay. - This is a Credit Event. ISDA 2003 Term: Obligation Default. FpML full definition: 'A credit event. One or more of the obligations have become capable of being declared due and payable before they would otherwise have been due and payable as a result of, or on the basis of, the occurrence of a default, event of default or other similar condition or event other than failure to pay. ISDA 2003 Term: Obligation Default.' - - credit default swap reference entity @@ -602,14 +588,14 @@ default requirement - + The threshold for Obligation Acceleration default requirement - + The threshold for Obligation Default @@ -898,5 +884,15 @@ The time of day in the specified business center when the calculation agent seeks quotations for an amount of the reference obligation for purposes of cash settlement. + + + + Preferred by the market over Obligation Default, because more definitive and encompasses the definition of Obligation Default - this is more favorable to the Seller. Subject to the default requirement amount. FpML full definition: 'A credit event. One or more of the obligations have been declared due and payable before they would otherwise have been due and payable as a result of, or on the basis of, the occurrence of a default, event of default or other similar condition or event other than failure to pay (preferred by the market over Obligation Default, because more definitive and encompasses the definition of Obligation Default - this is more favorable to the Seller). Subject to the default requirement amount. ISDA 2003 Term: Obligation Acceleration.' + + + + + FpML full definition: 'A credit event. One or more of the obligations have become capable of being declared due and payable before they would otherwise have been due and payable as a result of, or on the basis of, the occurrence of a default, event of default or other similar condition or event other than failure to pay. ISDA 2003 Term: Obligation Default.' + \ No newline at end of file