Interactive Data, in partnership with Scivantage, has enhanced its Market-Q hosted desktop for financial professionals to include account management and transaction processing capabilities.
With the new tool, financial managers will be able to automate trade processing, cost basis reporting and portfolio rebalancing. Additionally, advisors will have access to real-time market data and research, decision support tools and advanced trading capabilities.
“Combining Market-Q's customized market data and tools with client, account and transactional level data from major back office clearing providers through Scivantage extends our real-time streaming market data desktop into a comprehensive wealth management platform,” explained Bill Chambers, vice president and general manager for Interactive Data's wealth management business in the U.S., in a press release.
Market-Q currently allows financial firms to integrate their proprietary applications into its interface to create a single financial analysis solution. Market-Q provides real-time information about every kind of equity from markets in the U.S. and around the world. Research includes news from respected sources as well as historical data that can be narrowed down to a wide variety of time frames.
Because Market-Q is fully hosted, servers and routers at branch offices can be completely eliminated, freeing up IT staff and capex funds for other purposes. Differentiated pricing plans help companies to reduce their overhead costs.
Scivantage offers cloud-based trading and financial analysis platforms for advisors including Scivantage Investor, Professional and Maxit. In addition to analysis, advisors get highly configurable trading and account management platforms. Maxit, Scivantage’s top-of-the-line product, allows broker-dealers, mutual funds, custodians and prime brokers to streamline both portfolio and tax reporting.
“Leveraging Scivantage's unique, back office independent account management and advanced trading capabilities, the combined solution will offer retail brokerage firms and financial advisors a broader range of integrated services to support the wealth management lifecycle,” said Joe Stensland, executive VP of Product and Delivery Management for Scivantage.
“With no software programs to install or update, the system gives an advisor a versatile, powerful solution -- all on a fully hosted and secure Web platform.”
The beta product is currently on display at SIFMA Tech Expo in Scivantage’s booth, which is Booth 1416. Both companies anticipate releasing the full version of the product later this year. Both web-based and mobile interfaces will be available in the full release.
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Edited by Brooke Neuman