The position capture date is the date at which a custodian, broker or depository records the holdings in each account for the purpose of a corporate action. The positions captured, normally those at the close of business, are the basis for calculating what each holder will receive or may elect. For most distributions it coincides with the issuer's record date, but the two are not the same thing: the record date is set by the issuer for its register, whereas position capture is an operational step inside each intermediary's systems.
The capture distinguishes settled positions from trades still pending, since only settled holdings appear on the depository's books, while pending trades may give rise to a market claim. For voluntary events, positions may be captured again at the election deadline. The snapshot feeds corporate action entitlement calculation; see also entitlement date.