Securities administration - U.S.A.
Income collection
Public debt | |
Market Record date | No standard; usually Payment date -1 or the last business day of the month for payment on 7, 14, 21 or 28 of the following month |
Ex-date | No Ex-date |
Basis for entitlement | Settlement position on Record date |
Standard interest calculation rule | Most common is 30/360; Actual/360 is also used |
Corporate bonds | |
Market Record date | Usually Payment date -1 or the last business day of the month for payment on 7, 14, 21 or 28 of the following month |
Ex-date | No Ex-date |
Basis for entitlement | Settlement position on Record date |
Standard interest calculation rule | 30/360, Actual/360 |
Equities | |
Market Record date | As determined by the paying agent |
Ex-date | Record date -1 if no specific Ex-date is received from the market |
Basis for entitlement | Settlement position on Record date |
Standard interest calculation rule | Not applicable |
Investment funds | |
Market Record date | Usually Payment date -1 or the last business day of the month for payment on 7, 14, 21 or 28 of the following month |
Ex-date | Record date -1 for exchange-traded funds, certain mutual funds and limited partnerships that trade on an exchange and Record date -2 for other investment funds if no specific Ex-date is received from the market |
Basis for entitlement | Settlement position on Record date |
Standard interest calculation rule | Not applicable |
Corporate actions
The most important corporate actions on the US market are: tender offers, mergers, rights issues and exchange offers.
Shareholder meetings
The peak season for AGMs is February to July. Meeting notification is required by law.
Proxy voting
Proxy voting is allowed on the U.S. market. Proxy forms are mailed to the concerned addressee either directly by the company if the stock is held physically or by Broadridge for stock held in DTC, based on record date positions. The investor, investment manager or third party voting agent returns completed proxies to Broadridge (for shares held in DTC) or to the company/proxy solicitor (for shares held physically).
Entitlement is based on settled position at DTC on Record date.