Soft Dollar Reconciliation Reporting

Although this system does not manage the day to day operations of Soft Dollar trades and payments, the Operations department employs this tool to reconcile on a monthly basis all soft dollar assignments and report back to management the current positions and other critical information. The importing of trades is initiated from a download of all monthly transactions tagged as soft dollar eligible at then recomputes the actual soft dollar amounts based on rules defined at the customer level. Any differences between the downloaded and calculated figures are highlighted and the user either alters the rule or reports back differences. For the next twenty days, the download process is redone and any differences from the previous days are reported. In this manner, the soft dollar operations department can alter their rules and make the appropriate changes. Disbursements are also imported and differences reported. Reports are generated for management for accruals at the customer, transit and product levels.