NEW YORK, Aug. 21, 2014 /PRNewswire-iReach/ -- Silver Management Group, Inc., a leading investment services and wealth management technology solution provider, and Interactive Data Corporation, a leading provider of independent evaluated pricing and reference data services, have formed a strategic relationship to provide clients with fully automated, end-to-end cost basis reporting solutions based on Interactive Data's comprehensive global security reference data services and Silver's industry leading Portfolio Accounting Service (PAS).
Together, Silver and Interactive Data recently delivered an ultra scalable enterprise fixed income reporting solution for a global financial institution providing clearing and custody services for retail brokerage, investment advisory, and hedge fund clients. With cost basis accuracy and ease-of-operations as primary objectives, Silver and Interactive Data worked together to seamlessly integrate Silver's PAS for Fixed Income (PAS-FI) software with Interactive Data's reference data.
PAS-FI uses fixed income reference data along with account activity and client elections to automatically maintain regulatory accruals and basis adjustments. By integrating into account transfer and tax reporting systems with minimal change to current systems and operational processes, PAS-FI provides a low-maintenance approach for fixed income reporting compliance. According to Neal Ruskin, Managing Partner and head of product development at Silver, "Combining Interactive Data's high-quality reference data with our regulatory fixed income engine yields a true cost basis debt reporting solution for consistent and accurate 1099-OID, 1099-INT, and 1099-B information returns."
"We are pleased to provide Silver with access to our fixed income reference data service," said Andrew Hausman, President, Pricing & Reference Data for Interactive Data. "Interactive Data continues to strengthen its programs to help maintain the quality, accuracy and timeliness of the reference data coverage that we provide to our customers and business partners."
About Silver Management Group, Inc.
Silver Management is a leading technology solution provider and professional services organization supporting the financial services industry. Its scalable portfolio management platform and cost basis and performance reporting engines handle nearly $1 trillion in assets, and are used by broker/dealers, banks, custodians and RIAs to transform investment services strategy into reality. The firm's clients consistently benefit from Silver's deep subject matter expertise in securities brokerage operations, cost basis reporting, and wealth management.
For more information about Silver Management Group, Inc. please visit: www.SilverManagement.com
About Interactive Data Corporation
Interactive Data Corporation is a trusted leader in financial information. Thousands of financial institutions and active traders, as well as hundreds of software and service providers, subscribe to our fixed income evaluations, reference data, real-time market data, trading infrastructure services, fixed income analytics, desktop solutions and web-based solutions. Interactive Data's offerings support clients around the world with mission-critical functions, including portfolio valuation, regulatory compliance, risk management, electronic trading and wealth management. Interactive Data has over 2,500 employees in offices worldwide.
Pricing, evaluations and reference data are provided in the US through Interactive Data Pricing and Reference Data LLC and internationally through Interactive Data (Europe) Ltd. and Interactive Data (Australia) Pty Ltd.
For more information about Interactive Data Corporation please visit: www.InteractiveData.com
Media Contact: Andrew Rook, Silver Management Group, Inc., 609-275-9221, firstname.lastname@example.org
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SOURCE Silver Management Group, Inc.