Silver Provides Regulatory Fixed Income Cost Basis Solution
September 2013 -- In support of clients seeking to achieve compliance with the final phase of the cost basis reporting regulations, Silver Management is implementing its Portfolio Accounting Service for Fixed Income (PAS-FI) solution. PAS-FI is an adjunct processing engine that enables firms to add EESA-compliant calculation of OID, bond premium, acquisition premium, and market discount cost basis adjustments to existing portfolio accounting systems with minimal changes to current software and operational processes.
When integrated with an existing portfolio accounting solution, all cost basis processing (other than fixed income adjustments) continues to be handled normally on the existing system. PAS-FI automatically detects and applies all upstream lot adjustments with appropriate taxability and characterization, while maintaining historically accurate transactional activity as required for accurate fixed income calculations. Upstream adjustments to current or historical lot information may be made at any time — fixed income calculations are reprocessed as necessary to reflect current data.