Brokerage Accounting System (BAS)
Broadridge's Securities Industry Software’s (SIS) Brokerage Accounting System (BAS) is a real-time, integrated processing system that automates brokerage accounting and back office functions. Numerous back-office modules are available, which can all be customized to your firm's unique needs.
Following are the major components of the BAS System:
ACATS System
Interfaces with the NSCC's ACATS system to automate the transfer of customer account assets (including mutual funds) between firms.
Account Master
Used to establish and maintain accounts within the SIS system. Each account type has a specific account range associated with it. Many different types of accounts can be set up, such as customer, broker/dealer, clearing, inventory, vendor, transfer agent and reconciliation accounts.
ACH
The ACH (Automated Clearing House) module allows your customers to electronically transfer funds to their checking or savings accounts.
Agreement Papers
Use the Agreement Papers System to manage all your client agreements and associated documentation, including new account forms, margin and option agreements, arbitration agreements, and TEFRA/W8 Forms.
Annuities
The Annuity Subsystem reduces the time, expense and risk associated with processing annuity transactions. You can add, modify or delete annuity positions on-line, quickly view annuity information on customer statements, and more.
Cage Management
Used to post your firm's receipt and delivery of securities into the SIS system.
Cash Management
Used to post cash receipts, disbursements and journal entries into the SIS system. Includes an auto-check feature that enables the automatic release and printing of checks on a daily, weekly or monthly basis.
Deposit Automation Management
Provides firms with an interface to the DTCC Deposit Automation Management System.
Dividends/Dividend Reinvestment
Processes and pays interest and dividends earned by securities to customers. Information is entered into a dividends declarations screen and flows through the rest of the system updating all related files. Dividend reinvestment is also supported.
Fail Reporting
Generate real-time stock record and fail reports.
Income and Payout
Tracks the various functions associated with the representatives of your firm, such as commission budgeting, reporting, adjustments, commission payable inquiries and disbursements.
Inquiry
Provides an up-to-the-minute picture of system activity on a real-time basis. Firms can make inquiry-only requests or order hard copy reports.
IRAs
Maintain your client's IRA accounts. Features include automated fee billing and account debiting, daily and monthly reporting of account activity, Required Minimum Distribution (RMD) functionality, and more.
Margin
Calculates Reg T, federal and maintenance call requirements for customer accounts. It also provides your firm with discrepancy, control reports and online information to facilitate the required corrective action.
Memo Seg
Transmits instructions to DTC regarding customer fully paid shares. By using the Memo Seg product, firms can obtain daily calculations of their customers' securities segregation requirements based on excess and deficiency reports.
Mutual Funds
Interface to NSCC’s Fund/SERV and Networking systems. Also includes Fund Profile, SWP/PAC, and Commission Settlement functions.
Option Building
Real-time option building via the OCC (Options Clearing Corporation).
Periodic Payments
Automate regular disbursements to customer's retail and IRA accounts.
Post-Trade Accounting
Reconciles option and non-option trades between clearing organizations and the firm's customer account by CUSIP, settlement date, size and price.
Reorgs
Automates many reorg processes, allowing for set-up and execution of bond calls and corporate reorganization events on the applicable action date.
Sales Inquiry
Provides a variety of information for both management and account executives. The subsystem helps account managers keep better track of their own production and can assist branch managers in monitoring their offices.
Security Master
Contains the basic information associated with all securities used by the brokerage firm, such as price, description, symbol and CUSIP. The Security Master uses several formatted screens, which store information specific to a type of security (for example, equity vs. bond formats).
Shareholder Accounting
Maintain customer account money fund sub-accounting within BAS. If your firm uses the Central Asset Accounting module, a relationship is automatically established between the firm and the Money Fund, and the BAS system balances each fund daily.
Standard Trades
Provides the means for entering and updating trades within the SIS system. Ten different formats are available to allow for different trade-entry related functions. Trade confirmations are issued automatically and all other back office information is updated real-time. Cancels, give-ups, ID trades, etc. are all handled by Standard Trades.
System Control
Provides various security-related, parameter-driven functions which allow firms to customize the system to suit operation and management needs.
Tax Reporting
Broadridge/SIS systems provide extensive tax reporting capabilities, at the state, federal and global levels. Reporting choices are widely parameterized, and can be customized to meet the needs of your firm, your clients, and your products.
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