4. Communication of event information
5. Calculation of resultant entitlements
6. Passing of internal entries
7. Collection / disbursement of resultant entitlements
8. Updating of internal entries

Standardization of structure and format of commuications between parties i.e. issuers, custodian, STOs and clients, via SWIFT ISO 15022 messages (SMPG).

Announce Date
It is the date that announces the corporate event.

Ex-Dividend Date
It is the starting date that a new buyer of the security will not get the announced entitlement/rights.

Record Date
It is the official cut off date declared by the board of directors to determine who will be eligible for the announced entitlement/rights. It must be earlier than the Book Close From Date.

Snapshot Date (Calendar)
It is the calendar date that the record date process should be performed (holiday allowed).

Book Close Date From / To
It is used to temporary freeze the re-register of shareholders. During the period any transfer of shareholder are not accept by registrar.

Event’s Date

Distribution Date (Calendar)
It is the calendar date that the entitlement calculation process should be performed (holiday allowed).
Client Reply Due Date
It is an optional field for user to input the client due date if the event need for client’s reply. It must be later than the record date for the event type Bonus, Conversion, Deem Book Close and Dividend.
For warrant & rights, the system will generate the letter and send to client to confirm whether they want to exercise or not or the exact quantity they exercise. It must be earlier than record date.
Custodian Reply Due Date
It is an optional field for user to input the due date for the broker firm reply to CCASS. It must be later than the record date for the event type Bonus, Conversion, Deem Book Close and Dividend. Usually, it will later than the client reply due date.
Subscription Debit Date
This field is to control the subscription fee (cash) backdating for all entitled trading accounts of a particular event. System will allow user to input/update the “Subscription Debit Date” anytime before submitting the event to Entitlement Confirmation Approval function.
Value Date
Input the expected pay date (optional field). It is used for calculating the clients’ projected balance if required.

Reminder Date
Default as Client Reply Due Date –2 working days.

SWIFT Event Date
It is SWIFT Event Date defined by user that will be placed in SWIFT Event Date Qualifier. Mandatory if “SWIFT Event Date Qualifier” is not empty. Default value is Record Date.

Actual Pay Date
Display field to indicate the date of the entitlement distribution to client’s account. It should be updated by the system automatically after completion of the Entitlement Distribution process.

Right subscription consists of 4 sequential but potentially overlapping stages with each having dependencies upon the former
1. Distribution of nil paid rights
2. Trading of nil paid rights
3. Subscription of nil paid rights
4. Expiry of unsubscribed nil paid rights

Dates related
1. Announcement date
2. Rights trading period
Ex entitlement date
Record date
Nil paid right distribution date
Cease trading
3. Right subscription
Nil paid right distribution date
Internal deadline
Custodian deadline
Subscription close
New share distribution
4. Expiry
Subscription close
Subscription close + 1

淺談港島東四間會所：Fitness Fitness、physical（舒適寶）、Grand Club（格蘭會）、Kornhill Recreation Club（康怡俱樂部） –> 丹尼士文摘

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淺談港島東四間會所：Fitness Fitness、physical（舒適寶）、Grand Club（格蘭會）、Kornhill Recreation Club（康怡俱樂部）

若果你喜歡健身又住在港島區的話，可說是一個幸運兒，因為這裡有多間會所可供選擇，一般的水準也不俗，尤於筆者住康怡花園，也曾分別享用這四間會所的設施，現在淺談一下，與各位交流：

Fitness Fitness…這是一家以歐洲為基地的會所，全球共有數百間會所，而香港方面分別有四間Fitnesss Fitness在北角、（魚則）魚涌、上環、和尖沙嘴，另外三間較高級的Fitness First Plus在Excelsior Hotel、Sheraton Hotel和中環交易廣場一期。這間會所的所費，有分one club和all club兩種，亦有分有毛巾和無毛巾的價錢選擇，基本所費約在四百多元。座落太古坊的一間比較靠近筆者屋企，因此以往也比較常去，這間會所頗為美觀，各樣的設施齊備，由於屬於中檔收費，因此亦以三十多歲、四十多歲的會員區多。值得一提的是，Fitness First有些特別的設施是其他會所沒有，包括免費的奶茶、咖啡、汽水供應，還有免費的vcd出借服務。至於座落Sheraton Hotel的Fitness First Plus則有泳池和露天Jacuzzi設施，月費約八百元，若果去得密的話，也是著數的。

Physical…這是筆者比較喜歡的一間會所，原因是這裡的氣氛比較熾熱，receptionists也十分友善，一個價錢便可以去晒所有會所，而且收費透明，不會玩數字遊戲，這些都是他們的優點。值得一提，若果你是一個人入會，還是幫襯街邊的流動推銷員好些，因為他們會幫你湊夠兩個會員入會，毋須夾硬儲夠兩個人入會。筆者剛簽了一個三年合同，做兩年分期，每月供款250元，平均每月是167元。

Grand Club…這間會所座落Jusco 樓上，平均月費由600元起，特別的地方是這間會所有個暖水泳池和jaccuci，而且可以免費book場打羽毛球、乒乓球和壁球，至於打桌球和燒烤設施就另外收費。在室內泳池外面，有們大花園，在這裡享受下日光浴，是一個不錯的選擇。

Kornhill Recreation Club…這是一間只供康怡花園和康山花園的往客享用的會所，一年收費是3600元（包兩個會員），一次過付款，只收支票和現金，不收信用咭，這裡有兩個頗大的露天泳池，和七個網球場（自費），一個壁球場（自費）和一間健身室（免費）。美中不足的地方是泳池有冬令時間，在每年十月中至下一年的五月中，泳池在七點鐘便關門，這是一個失敗的安排，但一般而言，這般的價錢，已經算不俗。至於在柏慧苑旁新開的California Fitness，由於欠缺資料，所以不談。以上資料，僅作參考，一切以該等會所的正式條款為準。如有錯漏，請多多包涵，如有補充，希望各位提供資料。

Central securities depository (CSD) is the ultimate storage location of securities within a financial centre, usually in book entry form; settlement of trades may be provided as an additional service.

International CSD handles international securities. Only 2 organizations are recognized as ICSDs, namely Clearsteam (Luxemborg) and Eurocleatr (Brussels).

For it’s safe custody business the STO Securities Trading Organization may choose to maintain 2 accounts at it’s custodian within a specific market. Resident of certain countries has 1 rate (treaty rate) while other client has higher rate (non-treaty rate).

Reconcilation process is designed to prove that it’s book & records are accurate, through the comparison with
- trading system: trades and trade book position (ownership position)
- custodian: unsettled trades, settled trades, settled position. (location position)

The last 2 bullet points are the most common. They are errors of misunderstanding.

Interacting with requestors to avoid overburdening As discussed, the best way to manage a project is to listen to the request, assess the impact, and then present options to the requestor. If the PM does not callenge the date when receive the expected target date, then he/she would have overcommitted his/her team

Dealing with Mandated Dates A mandated date is the pitfall of many project. It can be one of the most common reasons work can fail because date itself itself is not usually qualified. The first mistake many PMs make is announcing the manydated date at the beginning of the project estimated process.

The theory starts with a common idea: pushing a team down versus a team up. If a PM is constantly pulling a team up through assistance and positive reinforcement, the PM will naturally move up with the team.

Do not allow anyone to blame the team for anything. Assume blame for the failure as the PM. This is a difficult concept for many PMs.

If a mistake is made or if a project is derailed, the person responsible could begin to fear for his or her job. Protecting that person from that level of scrutiny can satify his or her needs and ensure productivity in the future.

1. Status Reports
Frequency: weekly
Purpose: communicate weekly progress,

2. Meeting Notes
Frequency: as needed
Purpose: documentation what occurred in the meeting

3. Meeting Agenda

4. Issues, Risks and Deliverables log
Frequency: weekly
Purpose: communicate action items and issues

5. Project Plan
Frequency: weekly
Purpose: show current time frames and tasks

6. To-Do Lists
Frequency: weekly
Purpose: itemized list specifically for each resource

7. Budget
Frequency: weekly / monthly

Five items to a team on weekly basis.
1. Issues: at a minimum, the next 2 weeks worth of issues should be communicated. Showing all open issues is the preferred method.
2. Risks: risks are scored in number of ways, the most common way is impact (such as 0 to 3) multiplied by probability.
3. Deliverables: When an item is needed that does not appear in project plan, issues, or risks, deliverables can be used. This is the item or activity that nor large enough to be on project plan, yet still need to be completed.
4. Completed items
5. Upcoming tasks (2 weeks)

Functional requirements Versus Technical requirements
A functional requirement iscwhat actually needs to be done to complete the project. A technical requirement explains how the product or task will accomplish the scope.
- what should be done
- how it should be done

Who is Real customer
Although the sponsor is the financial enabler of the project and is generally the ultimate approval authority, the sponsor is not the real customer. The real customer is the users of the service, application, or product.

(BC + 4*ML + WC) / 6