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: Strategies, tools and techniques to extract value from unstructured data

Unstructured data is voluminous, unwieldy and difficult to store and manage. For capital markets participants, it is also key to generating business insight, making better-informed decisions and delivering both internal and external value. Solving this dichotomy can be a challenge, but there are solutions designed to help financial institutions digest, manage and make best use...

BLOG

Leading the Fight Against Corporate Fraud: How Every Business Can Embrace Transparency

By Alexandre Kech, chief executive at GLEIF. With criminals flourishing in the shadows of the global economy, shining a light on the legal entities involved in cross-border transactions is a foundational requirement to restore trust. For even the smallest organisations, this represents a compelling opportunity to make transparency a strategic priority and combat risk by...

EVENT

RegTech Summit New York

Now in its 9th year, the RegTech Summit in New York will bring together the RegTech ecosystem to explore how the North American capital markets financial industry can leverage technology to drive innovation, cut costs and support regulatory change.

GUIDE

Regulatory Data Handbook 2024 – Twelfth Edition

Welcome to the twelfth edition of A-Team Group’s Regulatory Data Handbook, a unique and useful guide to capital markets regulation, regulatory change and the data and data management requirements of compliance. The handbook covers regulation in Europe, the UK, US and Asia-Pacific. This edition of the handbook includes a detailed review of acts, plans and...