Overview: Exercising Security Rights (SAP Library

Overview: Exercising Security Rights

To edit/exercise security rights, you can use the standard interface described below for all rights categories.

This table should provide you with an overview of the function structure. The text that follows describes the individual components (the areas listed on the right hand side of the screen, and what the pushbuttons mean/do) and provides other valuable information.

Overview table: Function structure
Application toolbar
		Test run
Left side of the screen	Right side of the screen
Tree structure for executable rights This structure contains the ID numbers of the classes that contain an executable right for the various rights categories. If a right appears in the structure, this means that it was created in the class data. In other words, the ID number also appears if no position exists. Using the structure or by selecting a new ID number on the right hand side of the screen, you can switch from the screen for processing one right to the screen for processing another right without leaving the transaction.	Company code: This is a required entry. Key date: This must be predefined. The system needs it in order to read the positions. The system date (current date) is the default value. ID number: Enter the ID number you want to process. Choose to go to the class data for the ID number selected. If you do not know the ID number of a security, you can search easily for the ID number using the F4 Help and the selection criteria of the various tab pages: Rights category: The system displays the rights category of the ID number you have just selected.
	Header data See also: This area is described in more detail below.
	(Specific) rights See also: This area is described in more detail below.
	Position See also: This area is described in more detail below.

Calling up a right

To call up a right, you have the following two options:

You can use the tree structure

You can search for the ID number using the tree structure and double-click the required ID number to activate the display for the related rights data.

You can use the entries for the ID number in the ID number field on the right hand side of the screen. To do this, use the F4 Help.

If several rights categories exist for an ID number, choose the right you require in a dialog box.

Example:

A call right also exists for a convertible bond.

Header data

Here, you see all the data that specifies the right. A warrant may have the following entries, for example: Option ratio, option category, base price, and minimum exercise. The data is taken from the class data.

If you need the current market data entry in order to exercise the right, you enter this information here.

Example: In the case of an equity warrant with cash settlement, you require the current stock price in order to calculate the cash settlement amount.

Once you have selected a right, the area is only opened automatically if the current market data entry is required.

(Specific) rights

If several specific rights exist for a class, they are displayed here. Since you can only exercise one right, choose one of the rights available.

This section only applies to the following rights categories:

Warrants:

In this area, there are always at least 2 specific rights for a warrant, since in addition to the right to exercise, an expiration right is also always required. If you have not yet specified the entries for a warrant, all the other possible rights are offered in this area on the basis of the missing entries.

Example:

If you have specified neither the Option category (call or put) nor the Settlement (delivery or cash settlement) in more detail, the various rights available are displayed here:

Call with cash settlement
Call with delivery
Put with cash settlement
Put with delivery
Expiration right

Subscription rights
Stock swap

Callable bonds (callable and puttable)

Subscription rights, stock swap data and notice data can have different validity periods. A specific right is displayed in this section for each validity period. The most recent exercise period is selected as a default.

Position

In this section you see the positions for the class for each securities account. You can decide per securities account how many of these you want to exercise. To do this, enter the nominal amount to be exercised or the number of units to be exercised for each securities account.

In the overview you can also see (in the OthFlw..., OthFlowUnderl), whether other flows have already been entered.

Choose Postprocess flows to change the generated flows and/or enter other flows. See also: Postprocessing Other Flows

Choose Securities account cash flow to switch to the screen displaying the securities account cash flow for the position you have selected.

Pushbuttons in the upper part of the screen

Choose

(Hide overview) to hide the tree structure. Choose

(Display overview) to display the structure again.

Choose (Expand all) to expand all the areas on the right side of the screen. Choose (Collapse all) to close all the areas.

Choose (Posting control...) to display the posting control information.

Posting date
Document date
Text for an assignment

This posting information is written to all flows for a rights exercise.

Choose (Other date entries...) to branch to the screen for entering the calculation date for the incoming and outgoing flows.

The system defaults to the current date as the calculation date when you call up the function.

If you do not enter a calculation date, the calculation date is set to the same date as the key date of the exercise when you post the rights exercise.

The calculation date is calculated inclusively.

Choose (Payment details...) to display the global payment details. See also: Defining Global Payment Details

Choose

Test run to simulate the run for exercising the right. Any errors that would prevent the right from being exercised are displayed in an error log, as they are when you actually exercise the right. If you complete the test run successfully, a posting log appears showing the flows that have been generated by the exercise.

Choose to exercise the right you are currently processing.

Other functions available:

Choose Environment from the menu to go to the following functions:

Create/Change/Display position indicator

Before you exercise a right, you must have created the position indicator for all the relevant classes. This is why you have the option of branching to this function from here.

See also:

Editing Position Indicators

Execute/Reset period-end closing

Before you exercise a right, you must have performed a period-end closing for the class of the right on the key date of the exercise.

In addition, make sure that no closed flows exist after the key date of the exercise.

This is why you have the option of branching to this function from here.

See also:

Period-End Closing

Resetting the Period-End Closing

Reverse security right

If a right was not exercised correctly, you can use the reversal function. This enables you to reset the exercise of a right for each securities account.