Electronic Data Feeds
Electronic brokerage feeds eliminate the need to manually process paper confirmations and paper statements. Compliance11 partners with SS&C Technologies and ByAllAccounts, leading financial data aggregators, to provide electronic access to daily transactions and holdings information from thousands of brokerages.
Direct Brokerage Feeds
Direct brokerage feeds are electronic files sent directly from the carrying brokerage to the compliance system. In order to setup a direct feed, an authorization agreement between your firm and the carrying brokerage must be completed.
It is important to note that all software vendors have access to the same brokerage feeds. To say otherwise is misleading. Compliance11 supports direct brokerage to all brokerages willing to provide a feed.
All compliance automation vendors, except Compliance11, setup feeds directly between the carrying brokerage and your system, saddling you with the burden of feed setup and ongoing maintenance.
In contrast, Compliance11 uses a data aggregator (SS&C Technologies, formerly Evare) that specializes in receiving and processing brokerage feeds to facilitate setup and eliminate maintenance. Since SS&C already receives thousands of feeds from brokerages, setting up a new feed is simpler for them and for the brokerage, reducing setup time from months to weeks. Likewise, if a file does not arrive as expected or if a file is corrupt, SS&C resolves the problem before it is noticed.
ByAllAccounts
Compliance11 is the only vendor to offer a new method of receiving and integrating data feeds from thousands of brokerages through ByAllAccounts.
ByAllAccounts, LLC uses the same technology that personal finance software (e.g., Quicken) has been using for years to provide access to thousands of brokerages.
When users disclose their brokerage accounts, they are prompted to authenticate their user id and password. The account is activated immediately and transactions and holdings flow into the system daily just as if they were arriving via direct feed. No additional paperwork or authorization agreement with the carrying brokerage is necessary.