Corporate action events
ATTI: Attachment
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ATTI is the event in which separate securities, typically a bond or share and a warrant, are put together again to form a unit. It is the reverse of a detachment (DETI): the components are debited and the unit security is credited.
- Code
- ATTI
- Usually announced as
- VOLU or MAND
What ATTI means
Some issues are sold as units: for example a bond with warrants attached, or a share with a warrant. The parts can trade separately (ex-warrant bonds and stand-alone warrants) or together as the unit (cum-warrant). ATTI is the event that combines the parts back into the unit line.
The holder gives up the component securities in the stated ratio and receives the unit security. No cash normally changes hands. The event can happen because a holder asks for it, in which case it is voluntary, or because the market convention requires it at a given point, in which case it is announced as mandatory.
When you see it
- An MT564 with
:22F::CAEV//ATTI. The SMPG Event Interpretation Grid lists it as VOLU when the holder chooses to combine; the issuer definition also covers a combination made by market convention, which is announced as MAND. - Mostly seen in markets and on bonds where cum-warrant and ex-warrant lines are listed side by side. Its mirror event is DETI (detachment). A warrant exercise (EXWA) is different: there the warrant is used to buy the underlying security.
What to do next
- For a voluntary attachment, send an MT565 with the quantity of each component you want to combine before the response deadline, and make sure you hold all components in the right ratio.
- When the MT566 arrives, reconcile two debits (the components) against one credit (the unit). Book cost is normally carried over from the components to the unit; check your own tax and accounting rules.