Merger and Acquisition

There are different permutations of a merger or acquisition depending on the structure of the deal. Both positions and transactions events will occur, so it's important to avoid double booking of the same update. Below is one common example of a merger/acquisition:

Set Acquiree Symbol to Inactive

{
  "id": "event_b0762956-fdd7-4d5e-95f9-76e7650b2f5e",
  "type": "instruments.updated",
  "timestamp": "2025-05-22T12:43:45.730479352Z",
  "payload": {
    "instrumentID": "0ba6d0bc-20ae-49dd-9eca-145aaa3bd329",
    "previous": {
      "status": "ACTIVE"
    },
    "current": {
      "status": "INACTIVE"
    }
  }
}

Remove Acquiree Shares

{
  "id": "event_838ddc12-3726-4b17-98c6-1d3cc16eac16",
  "type": "positions.updated",
  "timestamp": "2025-05-20T05:20:26.703855849Z",
  "payload": {
    "accountID": "e11a2cc1-ee43-4744-9b80-3879755988fb.1610361181671",
    "accountNo": "DINM000037",
    "userID": "e11a2cc1-ee43-4744-9b80-3879755988fb",
    "updateReason": "MERGER_AND_ACQUISITION",
    "previous": {
      "costBasis": 185.34,
      "openQty": 1.96417973,
      "symbol": "DFS",
      "avgPrice": 94.36
    },
    "current": {
      "costBasis": 0,
      "openQty": 0,
      "symbol": "DFS"
    }
  }
}

Add Acquirer Shares

{
  "id": "event_ce654333-97ee-4ffb-9e48-15e76a83a2d3",
  "type": "positions.updated",
  "timestamp": "2025-05-20T05:20:26.717347458Z",
  "payload": {
    "accountID": "e11a2cc1-ee43-4744-9b80-3879755988fb.1610361181671",
    "accountNo": "DINM000037",
    "userID": "e11a2cc1-ee43-4744-9b80-3879755988fb",
    "updateReason": "MERGER_AND_ACQUISITION",
    "previous": {
      "costBasis": 0,
      "openQty": 0,
      "symbol": "COF"
    },
    "current": {
      "costBasis": 188.16,
      "openQty": 2.00189198,
      "symbol": "COF",
      "avgPrice": 93.99
    }
  }
}

Create Corresponding Transactions

Since this merger does not involve a cash payout, the resulting transactions primarily mirror the updates already captured in the aforementioned position events.

{
  "id": "event_04c8ff95-eb24-4909-b7a4-78ca0f7265f8",
  "type": "transactions.created",
  "timestamp": "2025-05-20T05:20:26.717538234Z",
  "payload": {
    "accountID": "e11a2cc1-ee43-4744-9b80-3879755988fb.1610361181671",
    "accountNo": "DINM000037",
    "userID": "e11a2cc1-ee43-4744-9b80-3879755988fb",
    "transaction": {
      "accountAmount": 0,
      "accountBalance": 5.61,
      "comment": "Removed 1.96417973 shares of DFS (part of merger/acquisition of DFS by COF)",
      "finTranID": "ME.210a6398-d385-4d84-9134-f2ad851ad0d1",
      "wlpFinTranTypeID": "8fbb70b9-21be-412a-9730-b9974a783473",
      "finTranTypeID": "MERGER_ACQUISITION",
      "feeSec": 0,
      "feeTaf": 0,
      "feeBase": 0,
      "feeXtraShares": 0,
      "feeExchange": 0,
      "positionDelta": -1.96417973,
      "instrument": {
        "id": "0ba6d0bc-20ae-49dd-9eca-145aaa3bd329",
        "symbol": "DFS",
        "name": "Discover Financial Services"
      },
      "mergerAcquisition": {
        "type": "REMOVE_SHARES",
        "acquirer": {
          "id": "1f2f2230-d641-49d8-8cd7-55b991de2360",
          "symbol": "COF",
          "name": "Capital One Financial Corporation"
        },
        "acquiree": {
          "id": "0ba6d0bc-20ae-49dd-9eca-145aaa3bd329",
          "symbol": "DFS",
          "name": "Discover Financial Services"
        }
      }
    }
  }
}

{
  "id": "event_94b182a4-aeb1-4abe-a1da-d6ee3471c84a",
  "type": "transactions.created",
  "timestamp": "2025-05-20T05:20:26.722634715Z",
  "payload": {
    "accountID": "e11a2cc1-ee43-4744-9b80-3879755988fb.1610361181671",
    "accountNo": "DINM000037",
    "userID": "e11a2cc1-ee43-4744-9b80-3879755988fb",
    "transaction": {
      "accountAmount": 0,
      "accountBalance": 5.61,
      "comment": "Added 2.00189198 shares of COF (part of merger/acquisition of DFS by COF)",
      "finTranID": "ME.c2a48921-b35d-4ca9-bb5e-08ff36a7f4d0",
      "wlpFinTranTypeID": "8fbb70b9-21be-412a-9730-b9974a783473",
      "finTranTypeID": "MERGER_ACQUISITION",
      "feeSec": 0,
      "feeTaf": 0,
      "feeBase": 0,
      "feeXtraShares": 0,
      "feeExchange": 0,
      "positionDelta": 2.00189198,
      "instrument": {
        "id": "1f2f2230-d641-49d8-8cd7-55b991de2360",
        "symbol": "COF",
        "name": "Capital One Financial Corporation"
      },
      "mergerAcquisition": {
        "type": "ADD_SHARES",
        "acquirer": {
          "id": "1f2f2230-d641-49d8-8cd7-55b991de2360",
          "symbol": "COF",
          "name": "Capital One Financial Corporation"
        },
        "acquiree": {
          "id": "0ba6d0bc-20ae-49dd-9eca-145aaa3bd329",
          "symbol": "DFS",
          "name": "Discover Financial Services"
        }
      }
    }
  }
}