IssuanceProcess
type: Ontology
abstract: General ontology for the process by which securities are issued. Contains the process features common to all or most securities issuance. These are extended in the process ontologies that are specific to particular types of issuance
license: https://opensource.org/licenses/MIT
imports: DebtIssuance
imports: IssuanceDocuments
imports: MuniIssuance
imports: FinancialInstruments
imports: CurrencyAmount
imports: Agents
imports: Contracts
imports: Documents
imports: Occurrences
imports: Objectives
imports: Roles
imports: PaymentsAndSchedules
imports: Relations
imports: AnnotationVocabulary
imports: SecuritiesIssuance
imports: Collections
imports: ContextualDesignators
imports: DatesAndTimes
imports: Identifiers
has maturity level: Provisional
copyright: Copyright (c) 2013-2023 EDM Council, Inc.

allotment information
type: Class
subclass of: traded instrument issuance process information
subclass of: Restriction
  on property: describes allotment of
  some values from: Security
subclass of: Restriction
  on property: comprises
  some values from: subscription closing information
definition: Information about the allotment of quantities of the issue to different subscribers. This relates a single instrument allotment against the subscription amounts allotted to each Subscriber.

announcement
type: Class
subclass of: IssuanceProcessActivity
subclass of: Restriction
  on property: offeringRequestor
  some values from: potential issuer

competitive sale method
type: Class
subclass of: security offering sale method
definition: No definition

issuance process activity
type: Class
subclass of: OccurrenceKind

issuance programme
type: Class
subclass of: Restriction
  on property: comprises
  some values from: SecuritiesOffering
definition: A series of issuances over time.
explanatory note: See for example MTN.

issue subscription information
type: Class
subclass of: traded instrument issuance process information
definition: Information relating to the subscription of the issue.

issued security issue information
type: Class
subclass of: Document
subclass of: Restriction
  on property: has partially paid issuance schedule
  all values from: PaymentSchedule
subclass of: Restriction
  on property: isAbout
  some values from: Security
definition: FIBIM: "Elements relating to issue preparation/bringing to market (also known as primary market or Initial Public Offering (IPO) issuance) through to issue date."
definition: Information about the Issuance of a Security, which is maintained throughout the life of the Security.

negotiated sale method
type: Class
subclass of: security offering sale method
definition: No definition

offering
type: Class
subclass of: IssuanceProcessActivity
subclass of: Restriction
  on property: has distribution type
  some values from: security offering distribution method
subclass of: Restriction
  on property: has sale method
  some values from: security offering sale method
subclass of: Restriction
  on property: required to make eligible
  some values from: OfferingDocument
subclass of: Restriction
  on property: givesRiseTo
  some values from: issued security issue information
definition: The process step of offering a security for issue. This is the making available of a new securities issue through an underwriting.
explanatory note: It is assumed that this exists for all security types as the precise issuance process is defined among the Offering terms. Terms which only exist for specific types of instrument are given as specialized variants of this class of Thing.

potential issuer
type: Class
subclass of: securities issuance process actor
subclass of: Restriction
  on property: is potential issuer
  some values from: securities issuance process

potential underwriter
type: Class
subclass of: securities issuance process actor
definition: The entity which will become the underwriter for an issue. Term origin:MBS PoC Reviews

primary identifier issuer
type: Class
subclass of: ContractThirdParty
definition: The party which formally issues the primary security identifier to the security. Term origin:MBS PoC Reviews

primary security offering distribution
type: Class
subclass of: security offering distribution method
definition: The original sale of a company's securities, in which the proceeds from the sale are received directly by the company.

registration information
type: Class
subclass of: traded instrument issuance process information
definition: Information relating to the registration of a registered security.

secondary security offering distribution
type: Class
subclass of: security offering distribution method
definition: An Offering of a security which has been previously issued.

securities issuance process
type: Class
subclass of: Restriction
  on property: hasIssuanceGuarantor
  some values from: security issuance guarantor
subclass of: Restriction
  on property: hasPotentialIssuer
  some values from: potential issuer
subclass of: Restriction
  on property: subscriber.1
  some values from: subscriber
subclass of: Restriction
  on property: produces
  some values from: traded instrument issuance process information
definition: The process by which a financial security is issued.

securities issuance process actor
type: Class
subclass of: AgentInRole

security issuance guarantor
type: Class
subclass of: securities issuance process actor
subclass of: Restriction
  on property: is issuance guarantor
  some values from: securities issuance process

security offering distribution method
type: Class
subclass of: DistributionStrategy
definition: The distribution type of a securities Offering.

security offering sale method
type: Class
subclass of: SalesStrategy
definition: Method for sale of a new security offering.

subscriber
type: Class
subclass of: AgentInRole
subclass of: Restriction
  on property: subscribesTo
  some values from: SecuritiesUnderwritingIssuanceProcess

subscription closing information
type: Class
subclass of: traded instrument issuance process information
subclass of: Restriction
  on property: appliesTo
  some values from: subscriber

traded instrument issuance process information
type: Class
subclass of: Document
subclass of: Restriction
  on property: isPartOf
  some values from: issued security issue information
definition: Information on one Security issue, arising from the Issuance Process. Note that one Issuance Process (Offering) may relate to more than on Issue, which itself may be the issue of more than one Traded Security.

underwriter takedown
type: Class
subclass of: underwriting process details
subclass of: Restriction
  on property: underwriter takedown shares
  max qualified cardinality: 1
  on data range: integer
subclass of: Restriction
  on property: taken down by
  some values from: MuniIssueUnderwriter
definition: Infomation on Takedown quantity of the security handled by the underwriter (that will be brought into DTC).
editorial note: Question: Do securities issued through processes other than the one formally identified as "Underwriting Process", have Underwriters? Our research would indicate that agency and non agency MBS issuance processes are not "Underwriting" processes as defined for the DTCC Muni unwriting process, but they do have a step which involves identifying and appointing an underwriter, so the issue is underwritten. It may be that these two processes should be defined as types of (variants on) a more general Underwriting Process, which is itself more general than the one captured separately for DTCC Muni Issuance, which is where this term now lives. Modeling Note: Definition is too DTC specific, from DTCC earliy reviews on Muni process. Need to have a global definition and understanding of this term.

underwriting process details
type: Class
subclass of: traded instrument issuance process information
definition: Information specific to the Underwriting of the Issue.

actual closing date
type: ObjectProperty
domain: issued security issue information
range: Date
definition: The Closing Date for the Issue, recorded after the event.

announcement date
type: ObjectProperty
domain: issued security issue information
range: Date
definition: Date/time, as announced by the issuer, at which the securities were to be issued and subsequently were issued.

describes allotment of
type: ObjectProperty
sub property of: isAbout
domain: allotment information
range: Security

expected closing date
type: ObjectProperty
domain: offering
range: Date
definition: The date on which the transfer of positions to underwriters is expected to take place. This date is provided by underwriters as part of an announcement.

final state described in
type: ObjectProperty
domain: SecuritiesOffering
range: FinalProspectus

first trade date
type: ObjectProperty
domain: issued security issue information
range: Date
definition: The date of the first trade of the security in the secondary market.

first trade date and time
type: ObjectProperty
domain: offering
range: DateTime
definition: First Date and Time a trade may be executed for this security. All times in Eastern Time Zone only. NOTE: This is a date in the future tense at the time of the Offering.

first trade settlement date
type: ObjectProperty
domain: issued security issue information
range: Date
definition: The date the Issuer and Underwriter exchange money for bonds.

formal award date and time
type: ObjectProperty
domain: offering
range: DateTime
definition: Date and time the issuer formally accepts a bid for Competitive Issues or, the Date and Time the Bond Purchase Agreement is executed for Negotiated Issues. Time Zone: Include in date/time data or add a term for it?

has distribution type
type: ObjectProperty

has partially paid issuance schedule
type: ObjectProperty
domain: issued security issue information
range: PaymentSchedule
definition: Partially paid issue: Schedule of partial payments and dates.

has sale method
type: ObjectProperty
domain: offering
range: security offering sale method
definition: Sale Method of the security.

is issuance guarantor
type: ObjectProperty
domain: security issuance guarantor
range: securities issuance process

is potential issuer
type: ObjectProperty
domain: potential issuer
range: securities issuance process

issue nominal number of units
type: DatatypeProperty
domain: issued security issue information
range: integer
definition: Total original quantity of securities issued.

issue offering units
type: DatatypeProperty
domain: SecuritiesOffering
range: integer
definition: Quantity of all securities that is offered in an equity or Corporate Bond issue.

minimum issue subscription
type: DatatypeProperty
domain: issue subscription information
range: decimal
definition: Minimum or incremental denomination required for the transfer or change of ownership of a security.

series
type: DatatypeProperty
domain: SecuritiesOffering
range: string
definition: Uniquely identified collection of securities within an Issue with same Expected Closing Date. The text gives the Series Identifier within the Issuance process. There may be one or more Series within one Issue.

over alloted
type: DatatypeProperty
domain: subscription closing information
range: boolean
definition: Whether the subscriber has been over-alloted the requested number of units. REVIEW: Not seen in data terms but implied elsewhere.

required to make eligible
type: ObjectProperty
domain: offering
range: OfferingDocument

series
type: DatatypeProperty
domain: issued security issue information
range: string
definition: Series identification for the individual Traded Financial Security.

subscription amount
type: DatatypeProperty
domain: subscription closing information
range: integer
definition: Number of units of the issue that an individual subscriber is allocated.

subscription period
type: ObjectProperty
domain: issue subscription information
range: DatePeriod
definition: Period during which the security can be subscribed to.

taken down by
type: ObjectProperty
domain: underwriter takedown
range: MuniIssueUnderwriter

underwriter takedown shares
type: DatatypeProperty
domain: underwriter takedown
range: integer
definition: Takedown quantity of the security handled by the underwriter (that will be brought into DTC).