What's Changed
Three major releases are coming soon that reshape how registry operations work to support bulk workflows across redemptions, applications, and fund switches. Each introduces a consistent end-to-end batch workflow with dedicated pricing, maker-checker controls, and a clean review gate before any units move. Here's what to expect.
A new switch order workflow
This release introduces an end-to-end bulk switch workflow for moving units between funds and unit classes — replacing what is currently a manual two-step process of separate redemption and re-subscription.
Switch orders follow a consistent lifecycle: Requested → Approved → Completed, with Rejected and Cancelled as terminal alternatives. Completed is the only status where transactions are created and holdings updated.
Create switch orders in bulk from Holdings
Select one or more holdings in Fund → Holdings and choose "Create switch orders." Specify the destination fund and destination unit class during creation. Multiple Requested orders can be created in a single action.
Approve or reject switch orders in bulk
From Fund → Switch Orders, select any number of Requested orders and approve or reject them in bulk. Rejections require a reason. Optional email notifications are available at both stages.
Batch process: draft, review, and confirm
Select Approved orders and choose "Process switch batch" to open the batch configuration. The workflow mirrors the batch pattern used for redemptions — configure, review a draft with calculated values, then confirm.
Switch processing uses dual pricing: a redemption price for the source unit class and an issuance price for the destination unit class. Price dates may differ between the two.
On confirmation:
Orders move to Completed
A paired redemption and issuance transaction are created per order and linked
The destination holding is created if it doesn't already exist
Holdings are updated — source units reduced, destination units added
Draft and confirmed batches are accessible from a Switch Batches tab within the Fund view. Draft batches can be edited or deleted. Confirmed batches are available for report download.
Email notifications
Switch notifications are optional at each stage. When a batch is confirmed, investors receive a Switch Redemption Completed and Switch Issuance Completed notice — one per transaction leg. Notices are stored in the investor's document vault.
Investor portal visibility
Switch orders are admin-only — investors cannot create switches via the portal. After processing, investors see updated holdings, switch transactions in their transaction history with a "Switch" tag, and switch notices in their document vault.