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Bedford, MA Office

32 Crosby Drive
Bedford
MA
US

London, UK Office

Fitzroy House, 13-17 Epworth Street
London
GB

Australia, Melbourne Office

1155 Malvern Road
Malvern
Melbourne
AU

France, Paris Office

9 rue de Téhéran
Paris
FR

Ireland, Dublin Office

6 Georges Dock, 4th floor IFSC
Dublin
IE

Luxembourg, Lux Office

5th floor 28 boulevard Royal
Luxembourg
LU

Switzerland, Geneva Office

25, rue Kléberg
Geneva
CH

New York, NY Office

100 William Street, 17th Floor
New York
NY
US

White Plains, NY Office

100 Hillside Avenue
White Plains
NY
US

Santa Monica, CA Office

2901 28th Street, Suite 300
Santa Monica
CA
US

Hayward, CA Office

3955 Point Eden Way
Hayward
CA
US

Singapore Office

1 Raffles Place #21-02 One Raffles Place
Singapore
SG

Hong Kong, Central Office

2001-2005, 20/F The Center 99 Queen's Road Central
Hong Kong
HK

Channel Islands, Jersey Office

8 Hill Street St Helier
Jersey
GB

Germany, Frankfurt Office

Sandweg 94
Frankfurt am Main
DE

Spain, Madrid Office

Francisco Silvela 42 1a planta
Madrid
ES

Switzerland, Zurich Office

Loewenstrasse 2
Zurich
CH

Australia, Sydney Office

Suite 405/368 Sussex Street
Sydney
AU

Japan, Tokyo Office

Kyobashi No. 8 Nagaoka Bldg. 1F 2-20-9 Hatchobori Chuo-ku
Tokyo
JP

Location Office

International House 1 St. Katharine's Way
London
GB

Italy, Rome Office

Via Cristoforo Colombo, 149
Rome
IT

Chicago, IL Office

600 West Fulton, 7th Floor
Chicago
IL
US

New York, NY Office

100 Church Street, 11th Floor
New York
NY
US

UAE, Dubai Office

805, City Tower 2 Sh. Zayed Road
Dubai
AE

Lombard, IL Office

955 Parkview Boulevard
Lombard
IL
US

Australia, Melbourne Office

Level 36/2 Freshwater Place Southbank Boulevard Southbank
Melbourne
AU

Telephone

02072653703

Contact

tony cossey a cossey
[email protected]
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Interactive Data’s Services Can Assist Clients with New Cost Basis Reporting Requirements

Interactive Data Corporation (NYSE: IDC), a leading provider of financial market data, analytics and related services, today announced that its Pricing and Reference Data business can help brokers and others required to file Form 1099-B comply with the new broker basis reporting requirements under the Emergency Economic Stabilization Act of 2008 (EESA).

The broker basis reporting provision within the recently passed EESA requires brokers to report a customer’s adjusted basis when reporting securities transactions and indicate whether gain is long-term or short-term. The cost basis reporting requirements are designed to recapture revenue from the under-reporting of capital gains, and are effective for securities acquired after December 31, 2010, beginning with stock transactions after January 1, 2011.

Interactive Data can help financial institutions prepare for this change with its daily Cost Basis service, which can help automate the calculation and delivery of cost basis information and enable firms to more effectively monitor their clients’ holdings. It provides clients with access to a comprehensive database that includes corporate actions for most listed securities dating back to their inceptions. The Cost Basis service also includes a sophisticated calculator that automatically adjusts the cost basis for securities transactions. This calculator can assist clients in identifying original cost by retrieving important information related to corporate actions.

“The new cost basis reporting provision mandates reporting of short and long-term gains, and financial institutions need to implement cost basis practices in order to comply with these requirements,” said Charles Price, senior director, entity data products for Interactive Data. “With more than 35 years of dividends and pricing information available, we are positioned to help our clients navigate and manage this challenging process.”

Clients that utilize Interactive Data’s Cost Basis service can receive the data in a range of formats and delivery systems. They can also access Web-based tools that help to monitor daily corporate actions affecting cost basis, create portfolios for tracking specific events and build customized reports. The Cost Basis service offers batch processing of historical transactions for assisting in confirming and establishing adjusted cost basis as well as comprehensive tools for helping to confirm cost basis for information for accounts that have been transferred.