Why advisors use TheBooks
We surveyed our customers to identify the reasons why firms use TheBooks as the core of their operating software environment. Here are the most frequently mentioned reasons:
Operational Efficiency
- Reduced expenses as compared to out-sourced back office functions.
- Dramatic reduction in time and effort required for reconciliation.
- Streamlined counter-party notification of trading activity.
- Automatic daily NAV calculations with daily, monthly, and yearly returns.
- Increase the number of accounts, clearing relationships, and execution relationships without any associated increase in manpower.
- The ability to obtain closing prices earlier for use in order generation.
- Multi-user capabilities have removed the operational bottlenecks associated with previous system.
- Ability to make back-dated trade changes and journal entries.
- Electronic trade execution with seamless give-up reporting.
- Advanced data management features including minute bar handling and derived data allows research never before possible.
Reporting and Customer Service
- Real-time position updates and valuation providing improved risk management.
- Real-time access to performance information using mobile devices.
- Ability to maintain all historic trading and performance information in a single repository with the ability to report on any date range.
- The ability to provide any level of transparency required by the investor and to deliver the information in the format and via the method they require.
- Easily produce monthly performance summary mailer (Tear sheet) for marketing purposes.
- A wide range of reports provide the ability to more effectively manage the fund.
- End-user customizable file formats provide easy integration with broker and administrator's back office systems.
Reduction of Risk
- The ability to track positions and performance by system as well as net to the street without the need to double-post or maintain two sets of trading information.
- Ease of integration with existing order generation systems.
- Remove the risk, expense, and inflexibility associated with in-house developed and maintained systems.
- Integrated risk platform includes the ability to evaluate the impact of position changes.
- Consolidation of multiple systems and databases into a single, company-wide system with a unified database of trading and performance information.
- Ability to expand the range of instruments traded without the need to wait for in-house system development.
Technology
- Built on Microsoft’s SQL Server™ database which provides a stable and reliable platform able to handle the largest advisors.
- FIX drop copy provides automatic trade capture from multiple brokers at one time.
- Built-in eMail and FTP capabilities make it easy to integrate with our trading partners without the need to develop in-house solutions.