> ## Documentation Index
> Fetch the complete documentation index at: https://developers.securitize.io/llms.txt
> Use this file to discover all available pages before exploring further.

> ## Agent Instructions
> SecId API: use the sandbox base URL https://partners-api.sandbox.securitize.io/investors/v1/onboarding-reliance unless the user explicitly provides production access. Authenticate with OAuth 2.0 client credentials: POST https://partners-api.sandbox.securitize.io/oauth2/token (form fields grant_type=client_credentials, client_id, client_secret, read from environment variables), cache the bearer token for its expires_in (7200 s) and send it as Authorization: Bearer on every call; never print or log the secret or the token.
> Nothing is verified until POST /investors/{investorId}/verification/submit. An individual: create, upload one identity document, submit. A company: create, add its people as key parties (at least one with isBeneficialOwner: true), upload their documents, submit.
> Branch on the HTTP status and the error `code`, never on `message`. A body without `code` comes from the gateway: on a 401 get a new token and send the request again; a 403 means the account is not enabled for this API.
> SecId API addresses: send address.state only when that address's countryCode is US, as the 2-letter state code (NY); omit it for any other country, also when the user has a province or region. Otherwise the call answers 400 validation_error on address.state.
> SecId API individuals in the US: taxId is the person's Social Security number, and it is checked against the name and residential address sent; send them as registered. A mismatch can move the investor to manual-review instead of verified. Sandbox does not run the check.
> Creates are safe to repeat with the same body: after a timeout or a 502, send the identical create again. Document uploads are not: each call stores a new document, so only re-send a document after a 502.
> Poll GET /investors/{investorId} about every 30 seconds, then back off; treat any status you do not recognise as not verified. In sandbox, the webhook investor.kyc.updated also announces every status change, and investor.suitability.updated / investor.dlt_test.updated every change of the suitability and DLT test verificationStatus: verify the signature, deduplicate on sourceEventId and confirm with the matching GET before acting. Token whitelisting is asynchronous too: poll GET /investors/{investorId}/wallets/whitelist until the status leaves processing.
> SecId API tax forms: POST /investors/{investorId}/tax-forms takes multipart/form-data (parts file, formType, signatureDate); never base64 or JSON. Let the HTTP client set content-type with the boundary. At any point of the verification, before or after the investor is verified, only for investors you created (201), one PDF up to 10 MB per call; each upload replaces the form on file, so after a 502 send the same request again. A W-9 can instead go as JSON fields to POST /investors/{investorId}/tax-forms/w9 (TIN as 9 digits, SSN or EIN): it does not replace a form on file (409 tax_form_already_active, details.activeTaxForm), and it requires a certification object (certifiedAt, signatureName, subjectToBackupWithholding false, isUSPerson true, certificationTextVersion w9-sm-2026-10): the investor certifies in your flow on the text published at /secid-api/tax-forms#the-certification, shown without changes; subjectToBackupWithholding true answers 422 business_rule_violation (details.reason backup_withholding_not_supported). Unlike creates, a repeat after success answers 409 tax_form_already_active, not 201: when details.activeTaxForm.formType is W-9, treat it as on file.
> Use synthetic test data in sandbox (@test.invalid emails, fresh ids each run). Never send more than one DLT test attempt per test investor unless the user asks: three failed attempts lock the test permanently.
> The complete contract, with every field, response and error, is the OpenAPI file of the API reference; the Errors page says what to do for each code.
> CET Underlying API: a WebSocket at wss://partners-rt-gw.sandbox.securitize.io/v1/market-maker/stream (TLS only; ws:// hangs with no answer). Sign hello, place_order, cancel_order and submit_crypto_funding with the user's Ed25519 key, read from an environment variable or secrets store; never print or log it. Sign timestamp + "." + type + "." + the exact payload string you send: serialise the payload once and embed that same string in the frame.
> CET Underlying API: send a unique requestId of at most 32 characters (a UUID without hyphens) on every message and match replies on it; frames without a requestId are pushes. Every amount is a decimal string, never a JSON number; compare amounts as decimals. Branch on the error code, never on message.
> CET Underlying API: an ack to place_order means taken, not filled. externalRef is the idempotency key; after an ack with status UNKNOWN or an UPSTREAM_UNAVAILABLE error, call get_order by externalRef before resending. Updates are delivered at most once: after any reconnect, read working orders back with get_order. Every order is placed by quantity. A buy must be a LIMIT order: quantity × limitPrice plus fees is held against your own available cash (get_cash_balance_v2), and a buy it does not cover, a MARKET buy or a notional order is refused (INVALID_ORDER). A sell must be placed by quantity, after its CETs reach the redemption wallet, or it is refused. mint_updated and burn_updated push mints and burns once they are on chain; after a gap, read them with get_mints and get_burns. The complete contract is the AsyncAPI file of the API reference.
> Stocks API (Beta): documented ahead of its release through the partner gateway; paths, fields and errors can change. Base URL https://partners-api.sandbox.securitize.io/stocks/v1. Send x-api-key on every call and investorId on every call about an investor. Read the key from an environment variable; never print or log it, and never call the API from frontend code.
> Stocks API: an investor can trade only once the SecId API shows them verified, with verified suitability (and a passed DLT test in the EEA), and once their wallet on the stock's chain is linked with their signature of the agreement message, signed verbatim. There is no whitelisting call: the first trade whitelists the wallet.
> Stocks API: orders are fill or kill. GET /stocks/realtime-price, prepare within about 20 seconds (signedPrice), have the investor's wallet sign the returned transaction unchanged and sign-only (never send it), then submit it once with POST /stocks/execute-signed-transaction within 120 seconds. Amounts are raw base units as strings; USDC has 6 decimals. The outcome is on chain: follow transactionHash.
> Stocks API: production access requires a UI audit by Securitize Compliance of the live screens: the disclosures and the market data shown, the NBBO included.
> Corporate Actions API (Beta, 0.x): in development and subject to change; paths, fields, enumerations and event names can change before 1.0.0. Base URL https://partners-api.sandbox.securitize.io/corporate-actions/v1. Get a bearer token with OAuth 2.0 client credentials at POST https://partners-api.sandbox.securitize.io/oauth2/token (no scope, 2 hours), cache it, and send Authorization: Bearer on every call. Read the client id, secret and the webhook signing secret from environment variables; never print or log them, and never call the API from frontend code.
> Corporate Actions API: webhooks arrive signed with the Standard Webhooks scheme under the svix-id, svix-timestamp and svix-signature headers (HMAC-SHA256 over id.timestamp.raw body, base64, v1 prefix; the secret is base64 after whsec_). Verify before parsing, reject a timestamp more than 5 minutes off, answer 2xx within 10 seconds. Delivery is at least once and can be out of order: deduplicate on sourceEventId, keep the highest version per object (objectId), order by sequence per stream.id, and replace the object with data (never merge).
> Corporate Actions API: treat an unknown caType, reasonCode, eventType or enum value as informational, never as an error. A restriction ends only with ca.restriction.removed; expectedEnd is informational. marketStatus UNAVAILABLE means do not trade; the reason field carries a restriction reasonCode or a market reason such as PRE_MARKET. GET /tokens?status= filters by marketStatus (OPEN, CLOSED, UNAVAILABLE), not by the token's ACTIVE status.
> Corporate Actions API: the event routes are at https://partners-api.sandbox.securitize.io/webhooks/v1 (not under /corporate-actions/v1) and cover every webhook family sent to the partner; filter with eventTypes=ca.* for corporate actions only. After an outage call POST /events/recover with since at the start of the outage (resends failed deliveries only), or page GET /events?since= (newest first, iterator paging, 90 days), then read state with GET /tokens/{tokenId}/status and GET /corporate-actions/{sourceCaId}. In sandbox, POST /sandbox/events with a scenario and one of your tokenIds publishes a scripted sequence at once; order the events by sequence, not by arrival.
> Investor Activity API: base URL https://partners-api.sandbox.securitize.io/v1. Authentication is OAuth 2.0 client credentials only (no API key): POST https://partners-api.sandbox.securitize.io/oauth2/token (no scope, 2 hours), cache the token, and send Authorization: Bearer on every call. The token identifies the investor account; there is no investor id to pass. Read the client id, secret and the webhook signing secret from environment variables; never print or log them, and never call the API from frontend code.
> Investor Activity API: every amount is an integer string in base units with a sibling decimals (human = amount / 10^decimals); parse with BigInt or a decimal type, never a float. Cash amounts (deposits, confirmations, payouts) are in the minor units of currencyId (1 = USD, decimals 2); token amounts (transactions, mintings, holdings) in the token's base units. Never add cash to tokens.
> Investor Activity API: reconcile a subscription by grouping GET /deposits?tokenId= on tokenIssuanceId and matching the transaction in GET /transactions?tokenId= with the same tokenIssuanceId (null on a deposit means not issued yet; null on a transaction means not an issuance). Each issuance has a deposit movement (cash in) and a liquidation movement (that cash applied to the tokens) for the same amount: count the cash once, by direction=deposit, never by adding every movement. Page with offset and limit (max 100) until offset + meta.length reaches meta.total; there is no tokenIssuanceId filter. Reconcile a redemption by txHash (transfer, investor.redemption.pending, payout sourceTransaction) and by the redemption's data.id across pending, confirmed, payout.initiated and payout.completed.
> Investor Activity API: webhooks arrive signed with the Standard Webhooks scheme under the svix-id, svix-timestamp and svix-signature headers (HMAC-SHA256 over id.timestamp.raw body, base64, v1 prefix; the secret is base64 after whsec_). Verify before parsing, reject a timestamp more than 5 minutes off, answer 2xx within 15 seconds. The body is {eventType, eventId, timestamp, data}: deduplicate on eventId (not svix-id), upsert by data.id, never move a record back to an earlier step, and treat an unknown eventType, processType or paymentMethod as informational. In webhooks a field with no value is absent; in endpoint answers it is null. After an outage page GET /webhook-events (newest first, iterator paging, optional eventType) back to the start of the outage.
> SecId hosted onboarding: instead of the API, a partner can send an investor to https://stocks.securitize.io/partners?tokenId=<stock token id>&partnerUrl=<return URL> (tokenAddress may replace tokenId; partnerUrl must be an absolute https URL, URL-encoded). Securitize runs identity verification, the investment profile and the wallet there. Nothing is appended to partnerUrl on return: check the wallet on chain before trading (Beta on Solana).

# Corporate actions

> The corporate action object: its fields, the types, the terms of each type, holder options, venue actions and settlement.

## The object

| Field | Type | What it is |
| - | - | - |
| `sourceCaId` | string | Stable id for the whole lifecycle |
| `version` | integer | From 1; one more on every change |
| `assetId` | string | The CET it applies to. In events, `tokenId` names the stream as well |
| `caType` | string | The kind of corporate action ([below](#types)). Treat an unknown value as informational |
| `caCategory` | enum | `MANDATORY`, `MANDATORY_WITH_OPTIONS`, `VOLUNTARY` |
| `isoEventCode` | string, nullable | Indicative ISO 15022 event code, for example `DVCA`, `SPLF`, `TEND` |
| `status` | enum | `ANNOUNCED`, `CONFIRMED`, `ELECTION_OPEN`, `ENTITLEMENTS_FIXED`, `SETTLING`, `COMPLETED`, `POSTPONED`, `CANCELLED` |
| `dataCompleteness` | enum | `PRELIMINARY` (some terms unknown, `null`) or `COMPLETE` |
| `dates` | object | Every key always present, `null` when not applicable: `announcementDate`, `exDate`, `recordDate`, `payDate` as `YYYY-MM-DD` on the New York calendar; `snapshotTime`, `effectiveTime`, `electionStart`, `responseDeadline`, `marketExpiration`, `votingCutoff`, `meetingDate` as ISO 8601 UTC |
| `terms` | object | Type-specific terms ([below](#terms-by-type)) |
| `options` | array | Holder options for corporate actions with options and voluntary ones; empty otherwise |
| `venueActions` | object | What your venue needs to do ([below](#venue-actions)) |
| `relatedCaIds` | array | Linked corporate actions, for example a merger and its appraisal option |
| `supersedesCaId`, `supersededByCaId` | string, nullable | Replacement links when a corporate action is re-announced as a new one |
| `correctionReason` | string, nullable | On a corrected version |
| `cancellationReason` | string, nullable | On a cancelled version |
| `description` | string, nullable | A summary for a human |
| `documents` | array | `{ title, url }`: the holder notice and issuer materials |
| `settlement` | object, nullable | On a `COMPLETED` version ([below](#settlement)) |

**Snapshot time.** `dates.snapshotTime` is the CET entitlement cut-off. CETs trade around the clock, so it is a fixed instant, 8:00 pm New York time on the business day before the ex-date or record date, and can differ from the underlying's record date.

**Concurrency.** Several corporate actions can be active on one asset at once. Each has its own `sourceCaId`; treat them independently.

## Types

| `caType` | Category | ISO | What happens to CET holders |
| - | - | - | - |
| `CASH_DIVIDEND` | Mandatory | `DVCA` | USDC through a distribution contract |
| `SPECIAL_DIVIDEND`, `RETURN_OF_CAPITAL` | Mandatory | `DVCA`, `CAPD` | USDC |
| `STOCK_SPLIT`, `REVERSE_SPLIT` | Mandatory | `SPLF`, `SPLR` | The token's multiplier changes at `effectiveTime`; cash in lieu of fractions in USDC |
| `STOCK_DIVIDEND` | Mandatory | `DVSE` | CETs minted to holders |
| `SPIN_OFF` | Mandatory | `SOFF` | New CETs minted, or USDC sale proceeds |
| `MERGER` | Mandatory or with options | `MRGR` | CETs burned, consideration delivered in CETs and/or USDC |
| `LIQUIDATION` | Mandatory | `LIQU` | USDC; CETs retired when the shares are cancelled |
| `DELISTING` | Mandatory | `DLST` | Trading restriction and wind-down; holder options by notice |
| `NAME_OR_IDENTIFIER_CHANGE` | Mandatory | `CHAN` | Metadata update, with a `ca.token.updated` |
| `DIVIDEND_OPTION` | With options | `DVOP` | Election on the Securitize event page |
| `TENDER_OFFER`, `EXCHANGE_OFFER` | Voluntary | `TEND`, `EXOF` | Election by transferring CETs to an option's address |
| `RIGHTS_ISSUE`, `WARRANT_EXERCISE` | Voluntary | `RHTS`, `EXWA` | Per notice; rights are not represented by CETs |
| `APPRAISAL` | Voluntary, linked to a merger | — | Election by transfer to an appraisal address |
| `MEETING` | Voluntary | `MEET`, `XMET` | Voting through Securitize |
| `CONSENT` | Voluntary | `CONS` | Consent through Securitize |
| `IST_CONVERSION` | Mandatory | — | In place: same token and address, holdings become registered positions, token name updated. No trading impact |

Every type is published through the same events and endpoints. Cash distributions and splits are processed automatically by Securitize; the other types are executed by Securitize operations with the same lifecycle. A type moving to automatic processing is a minor version, recorded in the changelog. **New types can be added in minor versions**: a `caType` you do not know is informational until you support it.

## Terms by type

Amounts are decimal strings. For cash distributions and splits every key is always present, `null` when not known yet; other types carry the keys that apply.

| Type | `terms` |
| - | - |
| Cash distributions | `grossAmountPerShare`, `currency` (`USD`), `paymentAsset` `{ chainId, tokenAddress, symbol }` (USDC), `withholdingApplies` (the rate depends on each holder's tax status, so the net amount is holder-specific), `frankingOrTaxNotes` |
| Splits | `ratio` `{ numerator, denominator }`, `fractionHandling`, `cashInLieuPrice` (decimal string, `null` when none), and `multiplier` `{ current, new, effectiveTime }` once the on-chain multiplier change is scheduled. At `effectiveTime` raw on-chain balances and the pool invariant do not change: the displayed balance is `raw × multiplier`, and the price per displayed unit divides by the multiplier |
| Stock dividend, spin-off | `ratio`, `resultingTokenId`, `resultingChainId` and `resultingContractAddress` (all three `null` when there is no CET, then `saleProceeds: true`), `fractionHandling`, `cashInLieuPerShare` |
| Merger | `consideration[]` of `{ type: CASH or SECURITY, amountPerShare or ratio, resultingTokenId, resultingChainId, resultingContractAddress }`, `prorationApplies`, `appraisalAvailable`, `appraisalCaId` |
| Tender, exchange | `offerPricePerShare` or `ratio`, `currency`, `minAcceptance`, `maxAcceptance`, `prorationApplies`, `withdrawalAllowed`, `oddLotPriority` |
| Meeting, consent | `meetingType` (`ANNUAL`, `SPECIAL`), `proposals[]` `{ id, title, boardRecommendation }`, `votingMethod` (`SECURITIZE_NOTICE`) |
| Delisting | `listingExchange` (MIC), `nmsStatusAfter`, `venueOffboardingRequired` |

`fractionHandling`: `CREDIT_FRACTIONAL` (fractional CETs credited), `CASH_IN_LIEU` (cash for fractions), `ROUND_DOWN`.

## Options

For `MANDATORY_WITH_OPTIONS` and `VOLUNTARY` corporate actions, `options` lists what a holder can choose:

| Field | What it is |
| - | - |
| `optionNumber` | Stable within the corporate action, from 1 |
| `optionType` | `CASH`, `SECURITIES`, `CASH_AND_SECURITIES`, `NO_ACTION`, `APPRAISAL`, `VOTE` |
| `isDefault` | The option applied when a holder takes no action |
| `electionMethod` | `NONE`, `SECURITIZE_PAGE` (on the Securitize event page) or `TOKEN_TRANSFER` (transferring CETs is the instruction) |
| `deliveryAddresses[]` | For `TOKEN_TRANSFER`: `{ chainId, address }` published by Securitize for this option. A transfer to any other address is not an instruction |
| `requiresLpWithdrawal` | CETs must be in the holder's wallet, not in a pool, to participate |
| `responseDeadline` | Securitize's deadline, earlier than the market's |
| `withdrawalMethod` | `NONE` or `INVESTOR_SUPPORT` |
| `outcome` | What the holder receives: cash per share, the resulting token (`resultingTokenId`, `resultingChainId`, `resultingContractAddress`) and ratio, return of unaccepted CETs |

A tender offer, with one election by transfer and a default of no action:

```json theme={null}
"options": [
  {
    "optionNumber": 1, "optionType": "CASH", "isDefault": false,
    "electionMethod": "TOKEN_TRANSFER",
    "deliveryAddresses": [{ "chainId": "eip155:196", "address": "0x5ec0a3f1c9d84b27e6f0a1b2c3d4e5f6a7b8c9d0" }],
    "requiresLpWithdrawal": true, "withdrawalMethod": "INVESTOR_SUPPORT",
    "outcome": { "cashPerShare": "41.50", "returnsUnacceptedTokens": true }
  },
  { "optionNumber": 2, "optionType": "NO_ACTION", "isDefault": true, "electionMethod": "NONE" }
]
```

### The resulting token

When a corporate action hands holders a different token, as in an exchange offer or a spin-off, the token is identified in three keys that always travel together, in `terms`, in a merger's `consideration[]` and in an option's `outcome`:

| Field | What it is |
| - | - |
| `resultingTokenId` | The token's id, as `GET /tokens/{tokenId}` keys it |
| `resultingChainId` | CAIP-2 chain of the token, for example `eip155:196`. The same value as `chainId` in `GET /tokens` |
| `resultingContractAddress` | The token's contract on that chain. The same value as `contractAddress` in `GET /tokens` |

All three are `null` when there is no CET yet for what holders receive.

The chain and contract address are published even when the token is **not linked to your account**: in that case `GET /tokens/{tokenId}` answers `404 TOKEN_NOT_FOUND`, and you read the token's basic information, such as its name, symbol and decimals, directly from the chain. Securitize links a resulting token to your account, and you decide whether to list it, ahead of the effective date.

An exchange offer with a resulting token:

```json theme={null}
"outcome": {
  "resultingTokenId": "9e1d4c7a-2b6f-4a3e-8d5c-0f1a2b3c4d5e",
  "resultingChainId": "eip155:196",
  "resultingContractAddress": "0x2b4d6f8a0c2e4a6c8e0b2d4f6a8c0e2b4d6f8a0c",
  "ratio": { "numerator": 1, "denominator": 2 }
}
```

## Venue actions

`venueActions` says what your venue needs to do, so you never infer it from the type:

| Field | What it is |
| - | - |
| `tradingStop` | `{ required, at, reasonCode }`: when to stop trading the token, for example at a merger's completion. You still follow the underlying's halts directly |
| `poolMode` | `NORMAL`, `REMOVALS_ONLY` (from a given time) or `CLOSE` |
| `lpExitDeadline` | Deadline for voluntary liquidity withdrawal before a forced one or a Securitize unwind |
| `displayToHolders` | Whether to surface the event in your interface, with the link in `documents` |
| `transferFlowRequired` | Holders need your transfer flow to an option's delivery addresses |

## Settlement

On the `COMPLETED` version, `settlement` carries what was settled for the asset:

```json theme={null}
"settlement": {
  "completedAt": "2026-11-13T16:00:00.000Z",
  "distributionContracts": [{ "chainId": "eip155:196", "address": "0x9d1c7e2f4a6b8c0d2e4f6a8b0c2d4e6f8a0b2c4d" }],
  "transactions": [{ "chainId": "eip155:196", "txHash": "0x3c5e7a9b1d3f5a7c9e1b3d5f7a9c1e3b5d7f9a1c3e5b7d9f1a3c5e7b9d1f3a5c" }],
  "totals": [{ "description": "Total distributed", "amount": "125000.5", "symbol": "USDC" }]
}
```

Aggregate figures only. A venue is not the issuer and receives no per-holder entitlements, elections or payments: individual payments are observed on chain, in the distribution contract's events and the holders' balances.

## Lifecycle rules

* **Creation**: `ca.action.created`, version 1. Terms may be `PRELIMINARY` with `null` fields.
* **Updates**: `ca.action.updated` when terms are confirmed or dates set; `changedFields` lists what changed.
* **Corrections**: `ca.action.corrected` when published data was wrong, with `correctionReason`.
* **Postponement**: `ca.action.postponed` with new dates, or with the dates `null` and status `POSTPONED` until they are set again.
* **Cancellation**: `ca.action.cancelled`, status `CANCELLED`, with `cancellationReason`. Terminal. A cancellation by the issuer is published the same way, linked to the original id; there are no unlinked cancellation notices.
* **Replacement**: a new corporate action with `supersedesCaId`; the old one is cancelled with `supersededByCaId`.
* **Completion**: `ca.action.completed` with `settlement`. Terminal.

Keep the highest version per `sourceCaId` and ignore events with a lower or equal one. The guide [Track a corporate action](https://developers.securitize.io/corporate-actions-api/track-a-corporate-action.md) walks through it.


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