Reconciliation
TAC matches your positions, cash and trades with the custodian statements each day. Each difference is shown with its amount and goes to a person.
Checks
TAC reads each custodian's statement in PDF, CSV or XML. A scanned PDF is converted to text first.
Each holding and cash balance is compared with your books. A difference shows the amount and which side holds it.
Each ordered buy and sell is matched to the trade blotter and to the bank's confirmation. A trade that does not match goes to a person.
Before a new holding is added, its ISIN is checked against the security master and an outside reference.
Where the match is uncertain, TAC does not correct it automatically. The difference, the evidence and an undo record go to Operations.
The lines TAC reads must add up to the total the bank printed on the statement. If one line is missing or wrong, the totals differ and the file is held until a person resolves it.
What you receive
Daily list of differences, by account and by custodian
Statement history, with a one-click check against your books
File log: who loaded each statement and what it changed
TAC reads each statement and lists the differences.
Our operations team works through the differences and raises them with the bank where needed.
Your principals read the daily report before they sign anything that relies on it.