Enforce OCF terminal transaction completeness

OpenCapTable-v34/daml.yaml

@@ -1,7 +1,7 @@
 sdk-version: 3.4.10
 name: OpenCapTable-v34
 source: daml
-version: 0.0.18
+version: 0.0.19
 build-options:
   - -Wno-crypto-text-is-alpha
   - --typecheck-upgrades=no

Test/daml.yaml

@@ -7,6 +7,6 @@ dependencies:
   - daml-stdlib
   - daml-script
 data-dependencies:
-  - ../OpenCapTable-v34/.daml/dist/OpenCapTable-v34-0.0.18.dar
+  - ../OpenCapTable-v34/.daml/dist/OpenCapTable-v34-0.0.19.dar
 build-options:
   - -Wno-template-interface-depends-on-daml-script

Test/daml/OpenCapTable/TestBalanceSecurityReferences.daml

@@ -125,7 +125,7 @@ testBalanceSecurityReferences_EditCanCreateStockSuccessorInSameBatch = script do
   let cancellation = StockCancellationOcfData with
         id = "TX-STOCK-EDIT-BALANCE"
         date = defaultTestDate
-        quantity = 10.0
+        quantity = 100.0
         reason_text = "Partial cancellation"
         security_id = "SEC-STOCK-1"
         comments = []
@@ -147,6 +147,7 @@ testBalanceSecurityReferences_EditCanCreateStockSuccessorInSameBatch = script do
     exerciseCmd created.updatedCapTableCid CT.UpdateCapTable with
       creates = [CT.OcfCreateStockIssuance balanceIssuance]
       edits = [CT.OcfEditStockCancellation (cancellation with
+        quantity = 10.0
         balance_security_id = Some "SEC-STOCK-EDIT-BALANCE-SUCCESSOR")]
       deletes = []
   pure ()
@@ -158,7 +159,7 @@ testBalanceSecurityReferences_EditMissingStockSuccessorFails = script do
   let cancellation = StockCancellationOcfData with
         id = "TX-STOCK-EDIT-MISSING-BALANCE"
         date = defaultTestDate
-        quantity = 10.0
+        quantity = 100.0
         reason_text = "Partial cancellation"
         security_id = "SEC-STOCK-1"
         comments = []
@@ -174,5 +175,32 @@ testBalanceSecurityReferences_EditMissingStockSuccessorFails = script do
     exerciseCmd created.updatedCapTableCid CT.UpdateCapTable with
       creates = []
       edits = [CT.OcfEditStockCancellation (cancellation with
+        quantity = 10.0
         balance_security_id = Some "SEC-STOCK-EDIT-MISSING-BALANCE")]
       deletes = []
+
+testTerminalTransactionCompleteness_EditFullCancellationToPartialWithoutBalanceFails = script do
+  TestOcp{issuer, cap_table} <- setupTestOcp
+  capTableCid <- addPrerequisites issuer cap_table
+  capTableCid <- addDefaultStockIssuance issuer capTableCid
+  let cancellation = StockCancellationOcfData with
+        id = "TX-STOCK-EDIT-PARTIAL-NO-BALANCE"
+        date = defaultTestDate
+        quantity = 100.0
+        reason_text = "Initially a full cancellation"
+        security_id = "SEC-STOCK-1"
+        comments = []
+        balance_security_id = None
+
+  created <- submit issuer do
+    exerciseCmd capTableCid CT.UpdateCapTable with
+      creates = [CT.OcfCreateStockCancellation cancellation]
+      edits = []
+      deletes = []
+
+  submitMustFail issuer do
+    exerciseCmd created.updatedCapTableCid CT.UpdateCapTable with
+      creates = []
+      edits = [CT.OcfEditStockCancellation (cancellation with
+        quantity = 10.0)]
+      deletes = []

Test/daml/OpenCapTable/TestConvertibleCancellation.daml

@@ -53,6 +53,25 @@ testConvertibleCancellation_Create = script do
       deletes = []
   pure ()
 
+testConvertibleCancellation_PartialWithoutBalanceSecurityFails = script do
+  TestOcp{issuer, cap_table} <- setupTestOcp
+  capTableCid <- addDefaultStakeholder issuer cap_table
+  let securityId = "SEC-CONVERTIBLE-PARTIAL-NO-BALANCE"
+  result <- createConvertibleIssuance issuer capTableCid securityId 100000.0 (DT.time (DA.date 2022 Jun 01) 0 0 0)
+
+  submitMustFail issuer do
+    exerciseCmd result.updatedCapTableCid CT.UpdateCapTable with
+      creates = [CT.OcfCreateConvertibleCancellation ConvertibleCancellationOcfData with
+        id = "TX-CONVERTIBLE-CANCEL-PARTIAL-NO-BALANCE"
+        date = DT.time (DA.date 2022 Nov 03) 0 0 0
+        security_id = securityId
+        amount = OcfMonetary with amount = 40000.0, currency = "USD"
+        reason_text = "Invalid partial cancellation"
+        balance_security_id = None
+        comments = []]
+      edits = []
+      deletes = []
+
 testConvertibleCancellation_PartialWithOptionals = script do
   TestOcp{system_operator, issuer, ctx, cap_table} <- setupTestOcp
   capTableCid <- addDefaultStakeholder issuer cap_table

Test/daml/OpenCapTable/TestConvertibleConversion.daml

@@ -248,6 +248,7 @@ testConvertibleConversion_FullFixedUsesCurrentPrincipal = script do
   capTableCid <- addPrerequisites issuer cap_table
   capTableCid <- addPreferredStockClass issuer capTableCid
   let securityId = "CONV-SEC-FULL-CURRENT-PRINCIPAL"
+      reducedSecurityId = "CONV-SEC-FULL-CURRENT-PRINCIPAL-BALANCE"
       reductionDate = DT.time (DA.date 2025 Nov 09) 0 0 0
       conversionDate = DT.time (DA.date 2025 Nov 10) 0 0 0
   sourceResult <- createConvertibleIssuanceWithMechanism
@@ -258,13 +259,21 @@ testConvertibleConversion_FullFixedUsesCurrentPrincipal = script do
     (DT.time (DA.date 2023 Mar 15) 0 0 0)
     (OcfConvMechFixedAmount (OcfFixedAmountConversionMechanism with converts_to_quantity = 10000.0))
     (Some "SC_PREFERRED")
+  reducedSourceResult <- createConvertibleIssuanceWithMechanism
+    issuer
+    sourceResult.updatedCapTableCid
+    reducedSecurityId
+    80000.0
+    reductionDate
+    (OcfConvMechFixedAmount (OcfFixedAmountConversionMechanism with converts_to_quantity = 8000.0))
+    (Some "SC_PREFERRED")
   reductionResult <- submit issuer do
-    exerciseCmd sourceResult.updatedCapTableCid CT.UpdateCapTable with
-      creates = [CT.OcfCreateConvertibleCancellation (convertibleCancellation
+    exerciseCmd reducedSourceResult.updatedCapTableCid CT.UpdateCapTable with
+      creates = [CT.OcfCreateConvertibleCancellation ((convertibleCancellation
         "TX-CONV-CANCEL-BEFORE-FULL-CONVERSION"
         securityId
         20000.0
-        reductionDate)]
+        reductionDate) with balance_security_id = Some reducedSecurityId)]
       edits = []
       deletes = []
 
@@ -275,7 +284,7 @@ testConvertibleConversion_FullFixedUsesCurrentPrincipal = script do
         , CT.OcfCreateConvertibleConversion ConvertibleConversionOcfData with
             id = "TX-CONV-CONVERSION-FULL-CURRENT-PRINCIPAL"
             date = conversionDate
-            security_id = securityId
+            security_id = reducedSecurityId
             trigger_id = "equity-financing-trigger"
             reason_text = "Convert the remaining principal after an earlier reduction"
             resulting_security_ids = ["SSEC-CONV-FULL-CURRENT-PRINCIPAL"]
@@ -293,6 +302,7 @@ testConvertibleConversion_PartialFixedUsesCurrentPrincipal = script do
   capTableCid <- addPrerequisites issuer cap_table
   capTableCid <- addPreferredStockClass issuer capTableCid
   let securityId = "CONV-SEC-PARTIAL-CURRENT-PRINCIPAL"
+      reducedSecurityId = "CONV-SEC-PARTIAL-CURRENT-PRINCIPAL-AFTER-REDUCTION"
       balanceSecurityId = "CONV-SEC-PARTIAL-CURRENT-PRINCIPAL-BALANCE"
       reductionDate = DT.time (DA.date 2025 Nov 09) 0 0 0
       conversionDate = DT.time (DA.date 2025 Nov 10) 0 0 0
@@ -304,13 +314,21 @@ testConvertibleConversion_PartialFixedUsesCurrentPrincipal = script do
     (DT.time (DA.date 2023 Mar 15) 0 0 0)
     (OcfConvMechFixedAmount (OcfFixedAmountConversionMechanism with converts_to_quantity = 10000.0))
     (Some "SC_PREFERRED")
+  reducedSourceResult <- createConvertibleIssuanceWithMechanism
+    issuer
+    sourceResult.updatedCapTableCid
+    reducedSecurityId
+    80000.0
+    reductionDate
+    (OcfConvMechFixedAmount (OcfFixedAmountConversionMechanism with converts_to_quantity = 8000.0))
+    (Some "SC_PREFERRED")
   reductionResult <- submit issuer do
-    exerciseCmd sourceResult.updatedCapTableCid CT.UpdateCapTable with
-      creates = [CT.OcfCreateConvertibleCancellation (convertibleCancellation
+    exerciseCmd reducedSourceResult.updatedCapTableCid CT.UpdateCapTable with
+      creates = [CT.OcfCreateConvertibleCancellation ((convertibleCancellation
         "TX-CONV-CANCEL-BEFORE-PARTIAL-CONVERSION"
         securityId
         20000.0
-        reductionDate)]
+        reductionDate) with balance_security_id = Some reducedSecurityId)]
       edits = []
       deletes = []
   balanceResult <- createConvertibleIssuanceWithMechanism
@@ -329,7 +347,7 @@ testConvertibleConversion_PartialFixedUsesCurrentPrincipal = script do
         , CT.OcfCreateConvertibleConversion ConvertibleConversionOcfData with
             id = "TX-CONV-CONVERSION-PARTIAL-CURRENT-PRINCIPAL"
             date = conversionDate
-            security_id = securityId
+            security_id = reducedSecurityId
             trigger_id = "equity-financing-trigger"
             reason_text = "Partially convert the remaining principal after an earlier reduction"
             resulting_security_ids = ["SSEC-CONV-PARTIAL-CURRENT-PRINCIPAL"]

Test/daml/OpenCapTable/TestConvertibleTransfer.daml

@@ -101,6 +101,33 @@ testConvertibleTransfer_PartialSAFE = script do
       deletes = []
   pure ()
 
+testConvertibleTransfer_PartialWithoutBalanceSecurityFails = script do
+  TestOcp{issuer, cap_table} <- setupTestOcp
+  capTableCid <- addDefaultStakeholder issuer cap_table
+  (capTableCid, assigneeId) <- setupStakeholderWithId issuer capTableCid "SH-CONVERTIBLE-PARTIAL-NO-BALANCE" "Convertible Assignee"
+  let securityId = "CSEC-PARTIAL-NO-BALANCE"
+      transferDate = DT.time (DA.date 2025 Oct 15) 0 0 0
+  result <- createConvertibleIssuance issuer capTableCid securityId 100000.0 (DT.time (DA.date 2024 Mar 01) 0 0 0)
+
+  submitMustFail issuer do
+    exerciseCmd result.updatedCapTableCid CT.UpdateCapTable with
+      creates =
+        [ CT.OcfCreateConvertibleIssuance (convertibleTransferIssuance
+            "CV-ISS-PARTIAL-NO-BALANCE" "CSEC-PARTIAL-NO-BALANCE-RESULT" assigneeId 40000.0
+            transferDate OcfConvertibleSafe (DT.time (DA.date 2025 Dec 31) 0 0 0))
+        , CT.OcfCreateConvertibleTransfer ConvertibleTransferOcfData with
+            id = "TX-CONVERTIBLE-TRANSFER-PARTIAL-NO-BALANCE"
+            date = transferDate
+            amount = OcfMonetary with amount = 40000.0, currency = "USD"
+            security_id = securityId
+            resulting_security_ids = ["CSEC-PARTIAL-NO-BALANCE-RESULT"]
+            comments = []
+            balance_security_id = None
+            consideration_text = None
+        ]
+      edits = []
+      deletes = []
+
 -- Test: Convertible note transfer with full assignment
 testConvertibleTransfer_NoteFullAssignment = script do
   TestOcp{system_operator, issuer, ctx, cap_table} <- setupTestOcp

Test/daml/OpenCapTable/TestEquityCompensationCancellation.daml

@@ -1,6 +1,7 @@
 module OpenCapTable.TestEquityCompensationCancellation where
 import Fairmint.OpenCapTable.OCF.EquityCompensationIssuance
 import Fairmint.OpenCapTable.OCF.EquityCompensationCancellation
+import Fairmint.OpenCapTable.OCF.EquityCompensationExercise
 import Fairmint.OpenCapTable.Types.Monetary (OcfMonetary(..))
 import Fairmint.OpenCapTable.Types.Vesting (OcfCompensationType(..))
 import qualified Fairmint.OpenCapTable.CapTable as CT
@@ -62,7 +63,19 @@ testEquityCompensationCancellation_CreateAndArchiveByIssuer = script do
   capTableCid <- addPrerequisites issuer cap_table
   let securityId = "db5a26d6-3912-4400-87b0-bda74de361af"
   result <- createEquityCompensationIssuance issuer capTableCid securityId 250000.0 (DT.time (DA.date 2020 Jan 15) 0 0 0)
-  _ <- createEquityCompensationCancellation issuer result.updatedCapTableCid securityId 214200.0
+  exerciseResult <- submit issuer do
+    exerciseCmd result.updatedCapTableCid CT.UpdateCapTable with
+      creates = [CT.OcfCreateEquityCompensationExercise EquityCompensationExerciseOcfData with
+        id = "TX_EC_EX_BEFORE_CANCEL"
+        date = DT.time (DA.date 2021 Nov 30) 0 0 0
+        security_id = securityId
+        quantity = 35800.0
+        consideration_text = None
+        resulting_security_ids = []
+        comments = []]
+      edits = []
+      deletes = []
+  _ <- createEquityCompensationCancellation issuer exerciseResult.updatedCapTableCid securityId 214200.0
   pure ()
 
 -- Archive with built-in choice (requires both signatories)
@@ -85,6 +98,25 @@ testEquityCompensationCancellation_CreateAndArchiveBuiltIn = script do
       deletes = []
   pure ()
 
+testEquityCompensationCancellation_PartialWithoutBalanceSecurityFails = script do
+  TestOcp{issuer, cap_table} <- setupTestOcp
+  capTableCid <- addPrerequisites issuer cap_table
+  let securityId = "SEC-EC-PARTIAL-NO-BALANCE"
+  result <- createEquityCompensationIssuance issuer capTableCid securityId 100.0 (DT.time (DA.date 2020 Jan 15) 0 0 0)
+
+  submitMustFail issuer do
+    exerciseCmd result.updatedCapTableCid CT.UpdateCapTable with
+      creates = [CT.OcfCreateEquityCompensationCancellation EquityCompensationCancellationOcfData with
+        id = "TX-EC-CANCEL-PARTIAL-NO-BALANCE"
+        date = DT.time (DA.date 2024 Mar 15) 0 0 0
+        security_id = securityId
+        quantity = 40.0
+        reason_text = "Invalid partial cancellation"
+        balance_security_id = None
+        comments = []]
+      edits = []
+      deletes = []
+
 -- Partial cancellation with optional fields populated
 testEquityCompensationCancellation_PartialWithOptionals = script do
   TestOcp{system_operator, issuer, ctx, cap_table} <- setupTestOcp

Test/daml/OpenCapTable/TestEquityCompensationTransfer.daml

@@ -95,6 +95,31 @@ testEquityCompensationTransfer_ResultQuantityMustMatchTransfer = script do
       edits = []
       deletes = []
 
+testEquityCompensationTransfer_PartialWithoutBalanceSecurityFails = script do
+  TestOcp{issuer, cap_table} <- setupTestOcp
+  capTableCid <- addDefaultStakeholder issuer cap_table
+  (capTableCid, transfereeId) <- setupStakeholderWithId issuer capTableCid "SH-EC-PARTIAL-NO-BALANCE" "EC Transferee"
+  let securityId = "ESEC-TRANSFER-PARTIAL-NO-BALANCE"
+      transferDate = DT.time (DA.date 2025 Jun 01) 0 0 0
+  result <- createEquityCompensationIssuance issuer capTableCid securityId 100.0 (DT.time (DA.date 2022 Jan 15) 0 0 0)
+
+  submitMustFail issuer do
+    exerciseCmd result.updatedCapTableCid CT.UpdateCapTable with
+      creates =
+        [ equityCompensationSuccessorIssuance "EC-ISS-PARTIAL-NO-BALANCE" "ESEC-PARTIAL-NO-BALANCE-RESULT" transfereeId transferDate 40.0 (Some equityCompensationExpiration)
+        , CT.OcfCreateEquityCompensationTransfer EquityCompensationTransferOcfData with
+            id = "TX-EC-TRANSFER-PARTIAL-NO-BALANCE"
+            date = transferDate
+            quantity = 40.0
+            security_id = securityId
+            resulting_security_ids = ["ESEC-PARTIAL-NO-BALANCE-RESULT"]
+            comments = []
+            balance_security_id = None
+            consideration_text = None
+        ]
+      edits = []
+      deletes = []
+
 testEquityCompensationTransfer_BalanceMustKeepSourceStakeholder = script do
   TestOcp{issuer, cap_table} <- setupTestOcp
   capTableCid <- addDefaultStakeholder issuer cap_table

Test/daml/OpenCapTable/TestFinalReferenceValidation.daml

@@ -31,7 +31,7 @@ stockTransferData transferId securityId = StockTransferOcfData with
   security_id = securityId
   quantity = 10.0
   resulting_security_ids = ["SEC-TRANSFER-RESULT"]
-  balance_security_id = None
+  balance_security_id = Some "SEC-TRANSFER-BALANCE"
   consideration_text = None
   comments = []
 

Test/daml/OpenCapTable/TestLifecycleInvariants.daml

@@ -518,18 +518,20 @@ testStockBalanceSuccessorIncludesPriorMaterializedReduction = script do
   (capTableWithClass, stockClassId) <- setupStockClassWith issuer cap_table (limitedStockClass "SC_STOCK_UNMATERIALIZED_HISTORY" 1_000.0)
   (capTableReady, stakeholderId) <- setupStakeholderWithId issuer capTableWithClass "SH_STOCK_UNMATERIALIZED_HISTORY" "Stock Unmaterialized History Holder"
   let sourceSecurityId = "SEC_STOCK_UNMATERIALIZED_HISTORY_SOURCE"
+  let transferBalanceSecurityId = "SEC_STOCK_UNMATERIALIZED_HISTORY_TRANSFER_BALANCE"
   issued <- createStockIssuanceWith issuer capTableReady (defaultStockIssuance "TX_STOCK_UNMATERIALIZED_HISTORY_SOURCE" sourceSecurityId stakeholderId stockClassId)
   transferred <- submit issuer do
     exerciseCmd issued CT.UpdateCapTable with
       creates =
-        [ CT.OcfCreateStockTransfer (lifecycleStockTransfer "TX_STOCK_UNMATERIALIZED_HISTORY_TRANSFER" sourceSecurityId 30.0 None ["SEC_STOCK_UNMATERIALIZED_HISTORY_MISSING"])
+        [ CT.OcfCreateStockTransfer (lifecycleStockTransfer "TX_STOCK_UNMATERIALIZED_HISTORY_TRANSFER" sourceSecurityId 30.0 (Some transferBalanceSecurityId) ["SEC_STOCK_UNMATERIALIZED_HISTORY_MISSING"])
         , stockSuccessorIssuance "TX_STOCK_UNMATERIALIZED_HISTORY_RESULT" "SEC_STOCK_UNMATERIALIZED_HISTORY_MISSING" stakeholderId stockClassId defaultTestDate 30.0
+        , stockSuccessorIssuance "TX_STOCK_UNMATERIALIZED_HISTORY_TRANSFER_BALANCE" transferBalanceSecurityId stakeholderId stockClassId defaultTestDate 70.0
         ]
       edits = []
       deletes = []
 
   let balanceSecurityId = "SEC_STOCK_UNMATERIALIZED_HISTORY_BALANCE"
-  let cancellation = (stockCancellation "TX_STOCK_UNMATERIALIZED_HISTORY_CANCEL" sourceSecurityId 20.0) with
+  let cancellation = (stockCancellation "TX_STOCK_UNMATERIALIZED_HISTORY_CANCEL" transferBalanceSecurityId 20.0) with
         balance_security_id = Some balanceSecurityId
   submitMustFail issuer do
     exerciseCmd transferred.updatedCapTableCid CT.UpdateCapTable with
@@ -545,6 +547,7 @@ testEquityBalanceSuccessorIncludesPriorMaterializedReduction = script do
   (capTableWithClass, stockClassId) <- setupStockClassWith issuer cap_table (limitedStockClass "SC_EQUITY_UNMATERIALIZED_HISTORY" 1_000.0)
   (capTableReady, stakeholderId) <- setupStakeholderWithId issuer capTableWithClass "SH_EQUITY_UNMATERIALIZED_HISTORY" "Equity Unmaterialized History Holder"
   let sourceSecurityId = "ESEC_UNMATERIALIZED_HISTORY_SOURCE"
+  let transferBalanceSecurityId = "ESEC_UNMATERIALIZED_HISTORY_TRANSFER_BALANCE"
   issued <- submit issuer do
     exerciseCmd capTableReady CT.UpdateCapTable with
       creates = [CT.OcfCreateEquityCompensationIssuance (lifecycleEquityIssuance "TX_EQUITY_UNMATERIALIZED_HISTORY_SOURCE" sourceSecurityId stakeholderId stockClassId 100.0)]
@@ -553,8 +556,9 @@ testEquityBalanceSuccessorIncludesPriorMaterializedReduction = script do
   transferred <- submit issuer do
     exerciseCmd issued.updatedCapTableCid CT.UpdateCapTable with
       creates =
-        [ CT.OcfCreateEquityCompensationTransfer (lifecycleEquityTransfer "TX_EQUITY_UNMATERIALIZED_HISTORY_TRANSFER" sourceSecurityId 30.0 None ["ESEC_UNMATERIALIZED_HISTORY_MISSING"])
+        [ CT.OcfCreateEquityCompensationTransfer (lifecycleEquityTransfer "TX_EQUITY_UNMATERIALIZED_HISTORY_TRANSFER" sourceSecurityId 30.0 (Some transferBalanceSecurityId) ["ESEC_UNMATERIALIZED_HISTORY_MISSING"])
         , CT.OcfCreateEquityCompensationIssuance (lifecycleEquityIssuance "TX_EQUITY_UNMATERIALIZED_HISTORY_RESULT" "ESEC_UNMATERIALIZED_HISTORY_MISSING" stakeholderId stockClassId 30.0)
+        , CT.OcfCreateEquityCompensationIssuance (lifecycleEquityIssuance "TX_EQUITY_UNMATERIALIZED_HISTORY_TRANSFER_BALANCE" transferBalanceSecurityId stakeholderId stockClassId 70.0)
         ]
       edits = []
       deletes = []
@@ -563,7 +567,7 @@ testEquityBalanceSuccessorIncludesPriorMaterializedReduction = script do
   submitMustFail issuer do
     exerciseCmd transferred.updatedCapTableCid CT.UpdateCapTable with
       creates =
-        [ CT.OcfCreateEquityCompensationCancellation (lifecycleEquityCancellation "TX_EQUITY_UNMATERIALIZED_HISTORY_CANCEL" sourceSecurityId 20.0 balanceSecurityId)
+        [ CT.OcfCreateEquityCompensationCancellation (lifecycleEquityCancellation "TX_EQUITY_UNMATERIALIZED_HISTORY_CANCEL" transferBalanceSecurityId 20.0 balanceSecurityId)
         , CT.OcfCreateEquityCompensationIssuance (lifecycleEquityIssuance "TX_EQUITY_UNMATERIALIZED_HISTORY_BALANCE" balanceSecurityId stakeholderId stockClassId 80.0)
         ]
       edits = []