Overview
Results are updated on a day-to-day basis to reflect any changes to uploaded position data. Users can upload position files for the same Net Asset Value (NAV) Date multiple times to correct data discrepancies or update results.
Understanding how the system processes re-uploaded data for an existing NAV Date is essential, as re-runs directly affect existing results, disclosures, and alert statuses.
The following sections outline expected system behaviour across different scenarios.
Various Scenarios
Scenario A: Disclosure Triggered in First Upload, Non-Disclosure Result Triggered After Re-Run
If a disclosure was triggered and closed (Marked as Filed or Rejected) for a NAV Date that is re-run afterwards, and the result changes the holding percentage, causing the result type (OK, Warning, or Info) to change, it will trigger a completely new result. When this occurs, the system generates an entirely new result and removes the visible history of the previous disclosure for that NAV Date.
The new result will be treated as brand new, and the status will be set to Unassigned and Unactioned. This is considered entirely separate from the (now invisible) Disclosure that has been replaced. The same will apply to a disclosure that was triggered and closed with a Rejected status.
Scenario B: Disclosure Triggered in First Upload, Disclosure Result Triggered After Re-Running
If a disclosure was triggered and closed (Marked as Filed) for a NAV Date that is re-run afterwards, and there is a change in the percent holding resulting in a disclosure with a different value, then this will re-open the disclosure (the result status will be Re-Opened).
Suppose a disclosure was triggered and left open (status: Disclosing) for a NAV Date that is re-run afterwards, and the result is a disclosure with a different value. In that case, this will still show as a disclosure but with the different value (the result status will be Disclosing).
If a disclosure was triggered and left open (status: Unactioned) for a NAV Date that is re-run afterwards, and the result is a disclosure with a different value, it will still show as a disclosure with the different value (the result status will be Unactioned).
Scenario C: Result Manually Converted to Disclosure, Non-Disclosure Result Triggered After Re-Running
If a result was manually converted to a disclosure (this functionality is available for rules such as 13D, Major Japan, etc.) and that NAV Date is re-run, the converted disclosure result will revert to its prior result type (Warning, Info).
To ensure accurate results, the desired result must be manually converted to a disclosure after every re-run of the file for that NAV Date.
Frequently Asked Questions
Q. Would I see the previous disclosure result when the re-run has caused a new Result (Warning, Info, OK)?
A. No, the new file will overwrite the previous results. The count of different result types will vary between uploads, and this can also be checked in the email notifications, which list the number of disclosures, unknowns, warnings, etc., for each uploaded file.
Q. What if I marked a disclosure as "filed", rerun the file, and there is no change in value for this disclosure result? Would this reopen the disclosure?
A. No, there is no change in value, so the disclosure will still be marked as filed. There will be no change to the result.