INDATA, a leading industry provider of SaaS (Software as a Service) for buy-side firms including trade order management (OMS), compliance, portfolio accounting and front-to-back office today announced that its iPM OMS, Compliance and Front Office solution now fully supports OASYS 6.3 for communicating tax lot information.
The Emergency Economic Stabilization Act of 2008, which went into effect on January 1, 2011, includes new reporting requirements that are changing the way the financial industry handles cost basis. For investment management firms who use order management systems, this means being able to send tax lot information on their trades to their brokers. For clients using Omgeo OASYS, the latest version, 6.3, now supports the reporting of cost basis information.
In an effort to keep clients ahead of these new requirements, INDATA now offers full support for OASYS 6.3 via the firmâs iPM Trading solution, an integrated OMS, Modeling, Compliance and Front Office system. âBeing first to offer full support for OASYS 6.3 gives our buy side clients a competitive advantage as other industry participants continue to change their systems to handle the new requirements,â commented David J. Csiki, Managing Director, INDATA.
âPast and ongoing investments that we are making to our iPM platform in the areas of compliance and upcoming requirements imposed by regulatory changes like Dodd-Frank have paid off as we had a record year in 2010 and our pipeline for 2011 is even stronger,â he added.