Advent Software has partnered with SunGard to offer FIX messaging for cost basis reporting. The companies will launch the enhanced FIX messaging through Advent’s Moxy trade order management system (OMS).
Advent will provide a straight-through-processing workflow from Moxy to support transmission of versus purchase information on the FIX allocation message that can be used to specify tax lots when closing out positions. The partnership will improve automation of trade lifecycle components, such as electronic order routing, broker allocations, helping to cut risk and costs associated with trading.
Click here for the release from Market Wire.