Silver Cost Basis Solutions

Fully compliant with the cost basis reporting provisions of the Emergency Economic Stabilization Act of 2008 (EESA) and related regulations and designed for configurability and customizability, Silver’s cost basis platform may be licensed and deployed with any mix of available features to satisfy specific business requirements.
Provide accurate cost basis through corporate actions via automated zero-break processing vastly reducing operations workload.
Meet regulatory requirements for fully conformed tax, transfer, and client reporting for all basic and complex debt instruments.
Rely on the industry’s most accurate and complete wash sale processing while maintaining independent lot and sublot views. Also maintain full traceability for lot-level operations and client support and configurable sublot granularity for reduced volume reporting to serve very active accounts.
Reduce operational workload via comprehensive exception reporting and a full-featured operations portal, as-of capability, bulk operations and automatic re-processing. Reduce client support workload via lot and sublot explainer tools.
Supplement existing tax lot systems with fixed income and/or wash sale processing via reconciliation-free integration that avoids precision, rounding, fractional share, lot disposal sequence, and other pitfalls.
Integrate with multiple back-office, trading and other data sources via rapidly configurable rule-driven interfaces; maintain synchronization with other lot accounting systems; chose to maintain critical security and account master data including asset classifications, specified as of dates, average basis elections, fixed income elections, Sec 475 status directly within the system or via existing systems and business processes.
Scale to millions of accounts and accounts with millions of transactions within tight SLAs via event-driven parallel processing and a hybrid persisted/dynamic data model with snapshotting capability.

Case Study – Retail Broker

A leading online broker with a large mix of active traders and buy-and-hold investors needed help after the cost basis solution offered by their back office provider failed to meet their needs. In only four months, Silver integrated its cost basis platform and processed a year’s worth of activity in time to meet the initial reporting deadline. Silver’s Cost Basis solution continues as the broker’s cost basis “book of record”, processing over 500,000 daily transactions and supporting year-end 1099 reporting for over 5 million accounts with more than 350 million closed lots and 650 million wash sale sublots to date.

Case Study – Prime Broker

Silver helped a major prime brokerage services provider add wash sales and fixed income processing capabilities to an existing portfolio accounting system. We did this without disrupting their current business and technical processes. Where other providers were unable to handle the extremely high-volume typical of prime accounts, Silver’s solution scaled to meet their needs, processing over 200,000 debt lots and more than 250 million wash sale sublots in just 3,500 accounts (some with millions of transactions). All was accomplished without requiring any ongoing stock record reconciliation, thereby minimizing operational overhead.