AccounTrex™, The First Syndicate Trading Management Platform, Exits Stealth Mode

TEANECK, N.J., Sept. 16, 2014 /PRNewswire/ -- AccounTrex LLC has announced today that it has emerged from stealth mode with clients and industry partnerships in hand, while offering introductory pricing for a limited time.

AccounTrex™, a patent-pending Syndicate Trading Management platform, is a revolutionary SaaS Back-Office, Portfolio and Subscription Management system that finally addresses the information technology needs of Syndicate Trading funds, allowing them to boost profits, while focusing more on deals and less on back-office issues.

Syndicate Trading Funds subscribe for and trade shares of initial and secondary public offerings for short term profit. Larger Funds transact between many DVP and standard Cash accounts at numerous brokerage/underwriting firms in order to maximize share allocations of public offerings, while smaller Syndicate Funds rely solely on Cash accounts. For Syndicate funds, inter-account money transfers and share delivery is commonplace. While deliveries and money transfers between DVP accounts clearing via a single Prime Broker are automatic, transfers and deliveries to or from different Prime Brokers or Cash accounts require manual actions initiated by Fund and brokerage firm personnel.

Until now, due to their unique setup, Syndicate Funds have experienced bottlenecks in the management of money transfers and securities deliveries, as no appropriate centralized Back-Office and Portfolio management system has existed. As such, there has never been a way to automatically interrelate downloaded transaction confirmations coming from disparate Cash and Prime Brokerage accounts, making timely fund-wide inter-account reporting impossible. Unable to keep track in an efficient manner, fund efficiency and profitability suffered. Historically, Syndicate Funds have coped by employing personnel to assist in these matters, painstakingly reconciling voluminous inter-account transactions. Without incurring that expense, timely reporting would be impossible, and unauthorized trades, fees, and botched transfers and deliveries would go unnoticed until it was too late to reverse them.

AccounTrex™, a cloud based SaaS Back-Office, Portfolio and Subscription Management solution developed together with Syndicate Traders, addresses the issues mentioned above, resulting in highly efficient operations, lower costs and increased profits. Centralized portfolio management is enabled through automatic download of balance and transaction data from all Cash and Prime Broker accounts in a Fund's system. AccounTrex™ interrelates multiple Prime, DVP and Cash account activity via patent-pending automatic transaction matching algorithms. In doing so, inter-account cash transfers and security deliveries can be easily managed and tracked, giving Syndicate Trading funds the automated back-office management solution that they have needed for so long. Now, accounts can be automatically reconciled, and reports can be generated on the fly, showing P&L, Broker & Underwriter Performance, and more. Deals can now be subscribed for in an efficient manner as well, thanks to a smart Allocation Blotter and an automatic deal feed.

AccounTrex™. Cloud-based Syndicate Trading Management.
For more information, visit www.accountrex.com, or call (800) 652-7595 Ext. 12

CONTACT: Sales Dept.
(800) 652-7595 Ext. 12
[email protected]

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SOURCE AccounTrex LLC