About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

Xcitek Introduces Cost Basis Calculator for Institutions’ Clients

Subscribe to our newsletter

Xcitek has introduced a new Xcitek Client Cost Basis product to ease the process of clients finding out cost basis information. The client requests for this information from their brokers and advisors can be a heavy burden, particularly during the tax season, according to Xcitek. In an effort to ease this burden, the vendor has built a customizable tool that can be embedded within the broker or advisor’s website to allow clients to calculate their own cost basis. The calculation factors in all splits, spin-offs, distributions, mergers and other cost basis affecting corporate actions. According to Xcitek, the calculator can handle equity positions initiated as far back as 1900 as well as the effects of Dividend Reinvestment Plans.

Says Joseph M. Carvalhido, managing partner at Xcitek, “(Typically) the institutions only track cost basis for the top tier of its clients through use of portfolio accounting software. That leaves the vast majority of clients without access to this critical information, and the task of researching the position falls to the broker or advisor. (This product) … enables the client to do it themselves”. The client version has evolved from Xcitek’s Cost Basis Service launched in 2000 for professional users.

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: Unlocking Transparency in Private Markets: Data-Driven Strategies in Asset Management

As asset managers continue to increase their allocations in private assets, the demand for greater transparency, risk oversight, and operational efficiency is growing rapidly. Managing private markets data presents its own set of unique challenges due to a lack of transparency, disparate sources and lack of standardization. Without reliable access, your firm may face inefficiencies,...

BLOG

Data Readiness is No Longer Optional for Banks

By Stuart Harvey, Chief Executive of Datactics. In a landscape marked by increasing regulatory scrutiny and accelerating digital change, data has long since shed its role as a by-product of banking operations and is now a critical strategic asset. The speed at which institutions must demonstrate data integrity, quality, and accessibility has made compliance not...

EVENT

Data Management Summit London

Now in its 16th year, the Data Management Summit (DMS) in London brings together the European capital markets enterprise data management community, to explore how data strategy is evolving to drive business outcomes and speed to market in changing times.

GUIDE

Regulatory Data Handbook 2025 – Thirteenth Edition

Welcome to the thirteenth edition of A-Team Group’s Regulatory Data Handbook, a unique and practical guide to capital markets regulation, regulatory change, and the data and data management requirements of compliance across Europe, the UK, US and Asia-Pacific. This year’s edition lands at a moment of accelerating regulatory divergence and intensifying data focused supervision. Inside,...