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Securities Overview

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Beginning with Suite 8.11.0 Service Pack 6 and continuing through Service Pack 11, substantial changes have been made to how securities function in Secretariat. This page compares the functionality in Secretariat between 8.10.0 and 8.11.0.

Securities Settings

In Secretariat 8.10.0, the system is configured to automatically calculate share balances based on the transaction ledger. If you choose not to have the system automatically calculate the share balances, the Disable securities transaction history auto-calculation option in Suite Manager must be checked. This setting applies system-wide for all entities, and can be access by selecting the System Settings component, clicking on the Secretariat, then clicking on the Securities settings.

systemsettings_810.jpg

Beginning in Secretariat 8.11.0 Service Pack 6, the global system setting was removed from Suite Manager and is now available as an option on each equity class. The option can be accessed from the equity Base Info tab and must be set for each class of equity.

pg_entities_equity_base_info_calculate_shares.jpg

In both versions, if this option is not selected, then the calculations will need to be manually performed by the user.

Authorized Shares

For both versions of Secretariat, in order for the transactions to calculate correctly, the Number of Authorized Shares must be entered into the Securities History tab BEFORE any information is entered in the Transaction Ledger tab. The screens are different between the versions because the Issued, Treasury, Outstanding, and Cancelled fields displaying in Secretariat 8.10.0 are auto-calculated and are now displayed in Secretariat 8.11.0 in the Summary section at the top of the Transaction Ledger tab and the Description is auto-populated by the system. 

image  Treasury Amounts were not calculated in Version 8.10.0, but are calculated in Version 8.11.0.

Below is a screenshot of a Secretariat 8.10.0 History record.

pg_securities_history810.png

Below is a screenshot of Secretariat 8.10.0 History grid list.

pg_securities_history_record.jpg

Below is a screenshot of a Secretariat 8.11.0 History record.

pg_securities_history811.png

Below is a screenshot of Secretariat 8.11.0 History grid list.

pg_securities_history_record811.jpg

Security Transactions

Once the number of Authorized Shares is entered, the transactions can be entered in the Transaction Ledger tab.

Issuing New Shares

Creating a record to issue new shares is straight-forward and works the same in both versions. The difference in the field functionality is in Version 8.11.0:

  • The Cancel Date is hidden and not necessary.
  • The Certificate Issued Date and Certificate Number are set to read-only when the record is saved.
  • A new Certificate Cancel Date is used to redeem shares when the certificate is cancelled.

Below is a screenshot of the transaction ledger in Secretariat 8.10.0.

pg_securities_transaction_ledger810.jpg

Below is a screenshot of the transaction ledger in Secretariat 8.11.0.

pg_securities_transaction_ledger811.jpg

A certificate issue is not mandatory, but then the redemptions are handled differently (see below).

Redeeming Shares

Whenever shares need to be cancelled or transferred, they must be redeemed, and its certificate, if issued, must be cancelled.  Redemptions are handled differently in Version 8.10.0 than they are in Version 8.11.0. In Secretariat 8.10.0, the original record where the shares were issued is edited and the following is changed:

  • The Transaction Type is changed from Issue to Redeem.
  • The Cancel Date is entered.

Below is an example of an issue in Secretariat 8.10.0:

pg_securities_transaction_ledger_issue810.jpg

Below is an example of a redeem in Secretariat 8.10.0:

pg_securities_transaction_ledger_redeem810.jpg

Then a new record must be created to issue or transfer shares. 

pg_securities_transaction_ledger_transfer810.jpg

image  The Transaction Subtype values can be managed by the System Administrator.

In Version 8.11.0, there must be a new record for each type of transaction incurred. Additionally, there are two ways to redeem shares:

  • Redemption when a Certificate has been issued
  • Redemption when no Certificate has been issued
Redeeming Shares in Secretariat 8.11.0 with a Certificate Issue

The original share Issue must be edited; and the Certificate Cancel Date must be entered. When the record is saved, the system will automatically prompt the User with the following screen:

db_attention.jpg

When selecting Create Redeem Transaction, the system will create a new record with the Transaction Type set to Redeem, filling in all the fields. Save the newly created record to create the redemption record.

pg_securities_transaction_ledger_redeem811.jpg

Redeeming Shares in Secretariat 8.11.0 without a Certificate Issue

The original share Issue should not be edited.

pg_securities_transaction_ledger_issue811.jpg

A new record is created to redeem the shares, entering the redemption date in the Transaction Date field.

pg_securities_transaction_ledger_redeem_2_811.jpg

Then a new record must be created to issue or transfer shares.

image  The Transaction Subtype values can be managed by the System Administrator.

pg_securities_transaction_ledger_transfer811.jpg

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