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Multi Create - DRIP
Multi Create - DRIP

Using the Batch Transaction feature users can make multiple transactions within a single offering easily at once.

Exempt Edge avatar
Written by Exempt Edge
Updated over a week ago

Select the Transactions Module on the left side of your screen

Select + Create Batch Securities

Select + Create New Batch

What type of transaction is this?

  1. Select the type of distribution the reinvestment will be made from. Choose one of the available options “Income, Interest, or Return of Capital” from the drop-down menu

Confirm you would like to include reinvestment details within the batch.

*Selecting "YES" will make both NON-DRIP AND DRIP transactions in the same batch, you do not need to make a separate batch for your Non-DRIP transactions.

*Selecting "NO" will only make a distribution batch with no reinvestment details, regardless of the investor's reinvestment selection.

Offering

  1. Select the applicable offering from the drop-down menu

Action

If you wanted to limit the draft batch to a specific trust/institution you can use the Action drop-downs to filter for them.

  1. Select which trust companies to include (default is “Include all Trust Companies”)

  2. Select Trust (only applicable if “Include Selected Trust Companies” or “Do not include selected Trust Companies” is chosen)

  3. Select which trust companies to include/exclude from the drop down menu

Begin Period Date

  1. Input Begin Period Date from the calendar or by manually entering the date (optional). The begin date is used in pro-rating the calculation.

  2. If no Begin Period Date is selected the batch will be calculated based on the total position as of the End Period Date.

End Period Date

  1. Input end period date from the calendar or by manually entering the date (default is the current date)

Include Begin Date in Calculation

  1. Choose to include Begin Period Date in the calculation or not (only applicable if Begin Period Date was entered, default is “NO”)

Show Zero Units

  1. Choose to include investors holding zero units in the batch (default is “NO”)

    If turned off, Investors that have 0 or near 0 (less than minimum digit) units will not be shown in the batch list.
    If turned on, all investors that were involved in this offering will be shown, regardless if they still have units.

Click the Next Step button

Status of Transaction

  1. Select which status you would like to create the transaction(s) in

Define the key dates for the Distribution

*you will also need to define these dates for the reinvestment separately.

Requested Date

  1. Select the date from the calendar or by manually entering the date (default is the current date)

Approved Date

  1. Select the date from the calendar or by manually entering the date (optional)

Closed / Settlement Date

  1. Select the date from the calendar or by manually entering the date

Confirmation Instruction

  1. Select from the drop-down menu. Please note confirmations are not sent until the transaction closes.

Dealer Role

  1. Select from the drop-down menu (default is “Agent”)

Show On Statement

  1. Choose whether to show the transaction on the statement or not (default is “YES”)

Specify the distribution transaction details:

First start by defining the value of the distribution.

  1. Value/Unit to be received (choose a method from the drop-down menu, default is “Custom”)

If there are any Fees:

  1. Select the type of fee to be charged from the “Select Fee” drop-down menu, define if it's a %, $, or flat fee and define a dollar value. Finally, you can choose to apply the fee to the transaction or the total position

If the Issuer charges any Fees:

  1. Choose “YES” (default is “NO”)

  2. Select the type of fee to be charged from the “Fee / Charge” drop down menu, select how the fee or charge will be calculated, define if it's a %, $, or flat fee, and define a dollar value.

Specify reinvestment transaction details:

  1. Value/Unit to be reinvested (choose from drop-down menu, default is “Use CMV”)

  2. Text box is pre-filled if “Use CMV” or “Use PPU” are selected, but should be changed for the other options

  3. Allow Partial Unit Re-investment - If you allow investors to reinvest partial units select Yes for this toggle, if you only allow whole units to be reinvested, select no. (Defaulted to "NO").

  4. Use Outstanding Residual Income - If there are previous DRIP residual values for the investor's position add them to the available cash for reinvestment total.

  5. Define the Key dates for the Reinvestment

    *These can be different than the distribution
    Requested Date

    1. Select the date from the calendar or by manually entering the date (default is the current date)

    Approved Date

    1. Select the date from the calendar or by manually entering the date (optional)

    Closed / Settlement Date

    1. Select the date from the calendar or by manually entering the date

  6. If there are any Fees:

    1. Select the type of fee to be charged from the “Select Fee” drop-down menu, define if it's a %, $, or flat fee and define a dollar value. Finally, you can choose to apply the fee to the transaction or the total position

    If the Issuer charges any Fees:

    1. Choose “YES” (default is “NO”)

    2. Select the type of fee to be charged from the “Fee / Charge” drop down menu, select how the fee or charge will be calculated, define if it's a %, $, or flat fee, and define a dollar value.

Click on the Create Batch button

  1. The batch will be queued and appear as “Pending” in the Batches screen under “Transaction Batches”

  2. Refresh to check the status, and click the eye symbol once the status is “Draft”

Edit Transaction Batch (if any changes or updates are required)

Users can also export a Excel of the draft batch at this point.

The batch may be edited by clicking the Edit button

  1. Scroll down to the “Transaction Batch Listing” if no changes are required

Transaction Batch Listing

  1. You can manually edit the percentage of the income received to be reinvested by changing the number in the “Reinvestment %” text box if desired (default is 100)

  2. You can choose whether to payout any residual income with the “Payout Residual” switch (default is “NO” and can only be changed to “YES” if “Reinvestment %” is “0”)

  3. You can manually edit the number of units receiving income in the “UNIT FACTOR” text box if desired (default is the investor’s current units) 

  4. You can manually edit the income being received per unit by the client in the “CPU” text box if desired (value will be pre-filled based on the “Value/Unit” options from earlier)

  5. You can manually select to import the DRIP for each investor, or select “All” above if all investors will be included. Note: Export Batch generates a CSV file of the DRIP transaction

  6. Scroll up and select Start Batch Process when ready, or Cancel Batch to delete the batch

Click on the Start Batch Process button

  1. The batch will be queued and appear as “Scheduled” in the Batches screen under “Transaction Batches”

  2. Refresh to check the status. Batch will appear as “Complete” under “Processed Transaction Batches” when completed and will be assigned a batch number

  3. Click the batch number to review the transaction results

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