Corporate Action Differences
Data Feeds
In Version 7 (V7), SpiderRock's corporate action data was sourced from the OCC feed, which focused on option-related events. Any additional coverage of equities and broader corporate activity was derived and calculated by SpiderRock using this market data feed.
In Version 8 (V8), data coverage has been expanded to include both the OCC feeds for options and the EDI feeds for equities. For European markets specifically, SpiderRock incorporates Activ's data feeds which preprocess corporate actions and deliver data that has already been adjusted.
Workflow and Application
In V7, adjustments were only applied when a client's portfolio or positions were directly impacted by an OCC-reported event. These updates were implemented manually by our client support desk.
In V8, corporate action processing has been largely automated. Any applicable events are automatically applied to client portfolios and positions. In addition, all corporate actions are now visible in the optionCorpActionRecordV5 and equityCorpActionRecordV5 messages. This provides clients not only with immediate adjustments but also with a consistent and transparent record of corporate action activity.