重组

The Depository Trust Company (直接转矩) offers full lifecycle processing of mandatory and voluntary reorganizations arising from the servicing of the approximately 1.4 million active securities eligible at the depository, 包括交换报价, 转换, 荷兰式拍卖, 合并, 把, 反向股票拆分, 投标出价, 保证练习, 还有其他事件.

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  直接转矩’s 公司行为处理 Service for 重组 provides full lifecycle processing, including sourcing and announcing the details of upcoming events, 接受指示并按指示行事, 和收集, 分配, 并报告由此产生的权利. The 重组 service includes the announcement and processing of events such as exchange offers, 转换, 荷兰式拍卖, 合并, 把, 反向股票拆分, 投标出价, 权利及认股权证的行使, 还有其他事件 arising from the servicing of the securities eligible at the depository.

• 谁可以使用该服务

  All 直接转矩 participants are eligible to use the service.

• 好处

  通过集中企业行为处理, including the receipt and allocation of cash and stock entitlements, the 公司行为处理 Service leverages the economies of scale and experience of 直接转矩 to provide cost savings to issuers, agents and participants – and ultimately to securities’ beneficial owners. The service enables a single payment by an agent or issuer to be seamlessly translated into multiple allocations to participants, eliminating the need for separate payments to multiple firms across the financial industry.

  直接转矩’s 公司行为处理 Service for 重组 provides participating organizations cost savings, 效率, 并通过以下方式降低风险:

  • Creating a central hub for all reorganization announcements for participants and a single point of contact for issuers and agents.
  • Creating efficiency and reducing exposure by allowing clients to input through 直接转矩 instructions that are transmitted directly to agents.
  • Providing an array of information and processing services formerly provided by outside agencies at a higher cost.
  • Delivering quick and easy access to announcements about reorganization events.
  • Automating the execution of conversion and warrant instructions with immediate credit for the underlying securities.
  • Automating the transmission and processing of voluntary instructions to agents.
  • Offering a book-entry environment in which participants can surrender securities and receive an entitlement without the need for a physical Letter of Transmittal.
  • Automating calculation and charging of rights subscription payments following instruction submittal.
  • Delivering swing movements to direct that entitlements are received by the entitled newly merged or consolidated organization.
  • Providing an automated method for early Certificate of Deposit (CD) redemption.
  • Providing an automated method for switching between different payment periods on Unit Investment Trusts (UIT) and Variable Mode Preferred stocks (VMP).
  • Providing an automated method to roll over maturing UITs prior to redemption.
  • Automating processing of mandatory reorganizations, including the submission of affected securities to agents and the collection and allocation of entitlements to participant firms.

• 服务如何运作

  Using 直接转矩's 公司行为处理 服务 for 重组, 参与机构可以:

  • Receive, view and track information regarding new and updated reorganization events.
  • Receive and view the distributions of reorganization allocations.
  • View announcements and submit instructions for 投标出价, 交换要约或与选举合并.
  • View announcements about upcoming repayment options and mandatory tenders, as well as process instructions to exercise repayments, 保留和放弃.
  • Exercise the early redemption privilege of eligible CDs.
  • 处理与会者的权限订阅, 转换说明, warrant exercise instructions and CMOP instructions.
  • View announcements and mandatory reorganization activities being processed on participants’ behalf by 直接转矩.
  • View announcements concerning upcoming shareholder meetings, 同意请求和破产, 以及行使股票/债券持有人的权利.

• 了解更多信息

  To request additional information, please click 在这里.