Odd lot buyback
Odd lot buyback is a corporate action where a company offers to repurchase shares from shareholders who hold less than a "round lot" – for example, fewer than 100 shares.
To run odd lot buyback:
(Optional) Create a group of portfolios that own odd lots:
Go to the Positions view and select the security. Define the "Less then" filter in the Amount column.
Export positions in XLSX, with portfolio information included in the Portfolio column.
Create a static portfolio group with the portfolios from the XLSX file:
Go to the Groups view and click Add.
Select "Static group".
Enter the group properties in the Basic info and choose the portfolios to include in the group in the Portfolios tab.
Create a corporate action (New → Corporate action → Other):
- Corporate action type*
Enter "Odd lot buyback" or another name to identify the corporate action type and search for the corporate action in the Corporate actions view.
- Security*
The security that is purchased back.
- Amount per share
The amount to pay out to the shareholders. Specify the amount per unit of the security.
- Transaction type
The transaction type for the transactions to be created. For odd lot buyback, create a transaction type that is the same as Dividend (DIV) and has the Amount effect = "Reduce amount". Give it a descriptive name. For details about creating a transaction type, see Transaction types.
Run or schedule the corporate action for all portfolios that own the asset or for a selected group you created in Step 1.