CDE Bid Election / Election Withdrawal

The below workflows apply to either:

  • the Controlling Participant, where the CSP sends a Corporate Action Election (evnt_742) message or Corporate Action Election Cancellation (evnt_745) message to the Offeror as a part of a Controlling Participant initiated Bid Election or Bid Election Withdrawal; or

  • the Offeror, where the CSP sends a Corporate Action Election (evnt_742) message to the Controlling Participant as a part of an Offeror initiated Bid Election.

For a detailed breakdown of available functionality, refer to the Controlling Participant Bid Election ProcessControlling Participant Bid Withdrawal Process and Offeror Initiated Bid Election Process Functional Specifications.

Participant Environments

In Participant environments, where a Controlling Participant initiates a Bid Election or Bid Election Withdrawal, the Auto-responder will act as the Offeror. The rules governing the Auto-responder behaviour are detailed in the diagrams below:

Controlling Participant Initiated Bid Election

Controlling Participant Initiated Bid Election Withdrawal

Issuer (Registry) Environments

In Issuer (Registry environments), where an Offeror initiates a Bid Election, the Auto-responder will act as the Controlling Participant. The rules governing the Auto-responder behaviour are detailed in the diagram below:

Offeror Initiated Bid Election