Record date
Market basicsThe cut-off date determining which shareholders are entitled to a corporate action.
In plain terms
Hold the shares on this date and the entitlement is yours. The price adjusts to reflect what has left.
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Glossary
Every term is defined twice: once the way a filing would put it, and once the way somebody would explain it to you across a table. The second one is usually the one that sticks.
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Share swap ratio
Fundamental analysisAlso called: Entitlement ratio
The ratio at which shares of one company are exchanged for another in a merger or demerger.
In plain terms
Tells you how many new shares you receive. The price adjustment on the record date is arithmetic, not a loss.