Market Data Explained

announcement does not impact the security directly, the event itself can cause a

change in the security’s value. Examples include:

• name changes

• merger announcements

• security symbol changes

• reorganization events.

From the point of a view of a logical framework, these three subtypes take the form

shown in Figure 4.10.

Ultimately, the most important point to note about corporate actions is that they

convey notices of change. The impact of these announcements varies by business func-

tions. For many uses, an up-to-date record of all notices is important. For others, only

those changes that have a related financial impact are relevant.

Such diversity ...