Vestmark

Request a Demo
Press Release < Back to Press & Events

Vestmark Receives Second US Patent for Innovative Trading and Reconciliation Solution

Wakefield, MA - September 30, 2013 - Vestmark, a leading provider of advisory solutions and wealth management technology, today announced that it was awarded a second US Patent for its automation of trade execution price detection, available through VestmarkONE, the firm’s unified wealth management platform.

US Patent 8,521,634 B1 "System and Method for Reconciling Financial Records by Matching Outstanding Trade Orders to Unmatched Transactions" describes a range of unique functionalities and capabilities invented by Vestmark to allow for efficient trade processing and streamlined reconciliation of trade orders, including:

  • Accommodation of user-defined rules, detailing automation and correction of specific breaks
  • Auto-acceptance of custodian values
  • Automatic pairing of trade orders to unmatched transactions, including price detection for mutual fund orders
  • Reconciliation of back-dated transactions
  • Programmed matching of positions and transactions that have not yet settled

"As the assets held in customized fee-based accounts continue to grow exponentially, accurate and timely data for trading, performance measurement and client reporting is of utmost importance. Vestmark’s significant investment in research and design enables our customers to maintain streamlined reconciliation operations, improving the timeliness and precision of critical functions,” said Heeren Pathak, Chief Technology Officer of Vestmark.

Back to Press & Events

About Vestmark

Headquartered in Wakefield, Mass. and founded in 2001, Vestmark is a leading provider of portfolio management solutions and outsourced services for financial institutions and their advisors, enabling them to efficiently manage customized client portfolios through an innovative technology platform. Supporting over $1.5 trillion in assets and 5.5 million accounts, Vestmark is a partner to some of the largest and most respected wealth management firms. For more information about Vestmark’s solutions, call (781) 224-3640 or visit www.vestmark.com.

Media Contact

Elizabeth Shim
Haven Tower
(424) 317-4861
eshim@haventower.com

Corp. Headquarters
100 Quannapowitt Pkwy
Suite 205
Wakefield, MA 01880
Vestmark Labs
One Kendall Square
Building 200
Cambridge, MA 02139
VestmarkONE Careers Company
Contact

781-224-3640

Support

We are committed to providing superior support to our users so that they can focus on the important work of helping investors reach their financial goals.

Upcoming Events

Terms of Use Privacy Policy VAS FORM CRS VAS FORM ADV

©2024 Vestmark, Inc. All rights reserved. Reproduction in whole or in part in any form or medium without express written permission is prohibited. Vestmark, VAST, and the Vestmark icon are registered trademarks. Other trademarks contained herein are the property of their respective owners. Vestmark believes that the information in this publication is accurate as of its publication date; such information is subject to change without notice.

Vestmark Advisory Solutions, Inc. (“VAS”), a wholly-owned subsidiary of Vestmark, Inc., is an investment advisor registered with the U.S. Securities and Exchange Commission (“SEC”). VAS acts as a paid sub advisor and/or overlay portfolio manager offering VAST and tax optimization services. Registration does not imply a certain level of skill or training. VAS has its principal place of business in Wakefield, MA. Investing involves risk. The value of an investment will fluctuate over time, and an investor may gain or lose money. Past performance is no guarantee of future returns and individual investor results will vary. Please consult our full disclosure document for a discussion of risks related to the services provided by VAS.