3.35.6.1 Liquidation

This topic provides information on liquidation.

During execution, the corporate actions procedure picks up all liquidations whose corporate action date is the same as the current date, and with status as Unprocessed or Error.

Subsequently, the pre-processing checks are performed. The liquidation procedure is then executed, which performs the following actions:

• Balances of all unit holders balances in the current fund, as of a date less than the action date, are picked up, and full redemptions in the fund are generated in respect of these unit holders.
• If a reversal or an amendment has been done after original processing, a reversal transaction is generated for all transactions for the day with a reference type indicating liquidation.
• Any underlying standing instructions for the unit holders are marked as Cancelled; if any reversal has been done after original processing, the original SI status is restored
• Any unexecuted limit orders for the unit holders are marked as EXPIRED, and the limit status for underlying limit orders is marked as ‘ungenerated’