Multiple Tax Lot Calculator Function Can Help Customers More
Efficiently Meet Their Broker Basis Reporting Requirements
Interactive Data Corporation (NYSE: IDC), a leading provider of
financial market data, analytics and related solutions, today announced
that its Pricing and Reference Data business has enhanced the
capabilities of its Web-based Cost Basis service. This service is
designed to help automate the calculation and delivery of cost basis
information and enable firms to more effectively monitor their
customers’ securities cost basis over time.
Interactive Data has broadened the capabilities of the service to
calculate adjusted cost basis for multiple tax lots (buys and sells) of
the same or different securities at one time. The results are delivered
in a consolidated report, showing adjusted number of shares, cost basis
allocation, long- and short-term gains/losses, and relevant holding
period dates for each tax lot. This ability to enter multiple
transactions at one time can help users to select from several
accounting methods that might be available, including First In/First Out
(FIFO), specific identification of securities sold and average cost.
Interactive Data’s Cost Basis service provides customers with access to
a comprehensive database that includes corporate actions for most listed
securities dating back to inception. It is designed to assist customers
in complying with their broker basis reporting requirements under the
Emergency Economic Stabilization Act of 2008 (EESA) by helping to
retrieve important corporate actions that can affect cost basis and to
calculate adjusted cost basis.
“Based on feedback from current and prospective customers, we determined
that providing batch processing capabilities for calculating cost basis
would help enable customers to operate more efficiently as they prepare
for their new cost basis reporting requirements,” said Charles Price,
senior director, entity data products for Interactive Data. “With our
depth of historical information, including 35 years of dividends and
pricing data, we are well-positioned to help our customers determine
cost basis.”
“Our firm continuously seeks out additional services to help us more
efficiently address our cost basis reporting needs,” said Dave Merriam,
Operations Manager for Raymond James Financial (NYSE: RJF).
