Cost Basis Automation

• Scivantage Maxit
• Data Management
• Cost Basis Expertise

Data Managment

Everyone understands the importance of tax code accuracy in cost basis calculations; however, back office data management is just as critical. If trades kick out or are incorrectly classified, accurate tax logic is irrelevant. Trade data issues and corporate action rounding problems will cause an expensive management problem for your operations staff. Scivantage Maxit is more than a sophisticated tax platform. Maxit leverages Scivantage's leading-edge trade platform and back office data model to deliver a unique product to the brokerage community; A cost basis system that has true synergy with brokerage systems. In the development of Maxit, Scivantage identified as particularly troublesome and directly addressed the following issues:

• Long trades incorrectly identified as short, and vice versa
• Option splits
• Option symbol changes
• Option LEAP conversions
• Corporate action rounding and timing differences
• Corporate actions with elections
• Basis carryover from option to underlying for exercises and assignments
• Symbol and security description differences

You shouldn't expect to make expensive and time consuming enhancements to your systems to meet the requirements of your vendor. Nor should you expect to have to make frequent manual adjustments to fix these discrepancies. You just expect these to work. With Maxit they do...out of the box.