Corporate Action Handling for BOATS for Overnight API
Last updated: June 25, 2026
Corporate Action | Description | BOATS Business Action | Final |
Merger and Acquisition | A merger/acquisition is the combination of two (or more) companies into one larger company, involving an exchange of stock and/or cash payment to the shareholders of the acquired company. | Advisement e-mail, Halt Stock, Orders Rejected for Session | Halt |
Name Change | Official Change of Name of the Security | Advisement e-mail, Halt Stock, Orders Rejected for Session | Halt |
New Listing | A stock dividend is when a corporation distributes earnings to its shareholders in stock | Advisement e-mail, Halt Stock, Orders Rejected for Session | Halt |
Reverse Stock Split | A reverse stock split is a type of corporate action that consolidates the number of existing shares of stock into fewer (higher-priced) shares. | Advisement e-mail, Halt Stock, Orders Rejected for Session | Halt |
Spin-off/De-merger | A spin-off (also known as a de-merger) occurs when the issuer of an equity security (the parent) “spins off” a business it owns into a separate new issuer (the “spinco”). Shares of the spinco are distributed to the shareholders of the parent, on a pro-rata basis, at a ratio established by the parent. | Advisement e-mail, Halt Stock, Orders Rejected for Session | Halt |
Forward Stock Split | A forward stock split is a type of corporate action that increases the number of existing shares of stock into more (lower-priced) shares. | Advisement e-mail, Halt Stock, Orders Rejected for Session | Halt |
Symbol Change | Symbol Ticker changes from one value to another. | Advisement e-mail, Halt Stock, Orders Rejected for Session | Halt |
Bonus Issue | A bonus issue, also known as a scrip issue or a capitalization issue, is an offer of free additional shares to existing shareholders. | Keep trading | |
Liquidation Distribution/Liquidation Dividend | A liquidation distribution, sometimes referred to as a “liquidating dividend” is a cash distribution made by an issuer in conjunction with the dissolution of its business. | Keep trading | |
Cash and Stock Dividend | Cash-and-stock dividend is when a corporation distributes earnings to its shareholders in both cash and stock as part of the same dividend | Keep trading | |
Cash Dividend | An ordinary or regular cash dividend is the payment of cash by the Issuer of the security to shareholders. | Keep trading | |
Optional Dividend | Optional Dividend is whena corporation distributes earnings with the option in payment via cash and/or shares. | Keep trading | |
Return of Capital | A return of capital is a cash distribution paid from the company’s capital surplus rather than its net income or retained earnings. | keep trading | |
Right to Purchase | Holders of share purchase rights may or may not buy an agreed number of shares of stock at a pre-determined price, but only if they are an existing stockholder. | Keep trading | |
Stock Dividend | A stock dividend is when a corporation distributes earnings to its shareholders in stock | Keep trading | |
Rights Offering | An issuer may offer to existing shareholders the right to participate in a new issuance of shares in proportion to each shareholder’s existing holdings of the security at a set price (the subscription price) during a subscription period. | Keep trading | |
Stock Distribution of Another Security | An issuer may distribute shares of a different class or class of shares of another existing company to shareholders | Keep trading | |
Halts | Obey ATS Filing - ONLY if halted for entire day (not just x hours or y minutes) | Advisement e-mail, Halt Stock, Orders Rejected for Session | Obey ATS Filing |
Delisting | Delisting is the removal of a listed security from a stock exchange. The delisting of a security can be voluntary or involuntary and usually results when a company ceases operations, declares bankruptcy, merges, does not meet listing requirements, or seeks to become private | Assuming all BD's already know | Remove from symbol master |