A Spinoff relates to when a single company is split into a new company, creating a new CUSIP and symbol traded entity. It is typical that the spinoffs also contain a share conversion.
{
"id": "event_22f840b1-80c8-4d72-9f10-07315ffd30fb",
"type": "positions.updated",
"timestamp": "2019-03-29T07:02:33.200962333Z",
"payload": {
"accountID": "272472de-6522-41be-85a6-31af662251dc.1520386265152",
"accountNo": "DWFE000039",
"userID": "272472de-6522-41be-85a6-31af662251dc",
"updateReason": "SPINOFF",
"spinoff": {
"parentCompanySymbol": "CLEG"
},
"previous": {
"openQty": 0,
"symbol": "BMY.RT"
},
"current": {
"openQty": 0.00915499,
"symbol": "BMY.RT"
}
}
}