If you are a RIA, CTA, CPO or friend and family adviser, in order to automatically charge adviser fees to your client accounts and increase efficiency and reduce error rate, would you like IB to support MONTHLY automatic bill?
For Automatic Billing, IB currently at least followings two options:
Option 1. Percent of Annual Positive P&L: Entered as an annualized percentage, applied on an annually basis as of 12/31.
Option 2. Percentage of Positive Market-to-Market P&L: Entered as a percentage, applied on a quarterly basis as of 3/31, 6/30, 9/30, and 12/31. P+L is determined by subtracting the beginning period equity from the ending period equity, and removing all cash items such as deposits, withdrawals, and fees for the period. Fees will be calculated and posted by the 10th business day after the end of a quarter.
Above Option 1 is per YEAR.
Above Option 2 is per QUARTER.
But IB current does not support the follow option (per MONTH):
NEW OPTION. Percentage of Positive Market-to-Market P&L: Entered as a percentage, applied on a monthly basis as of 1/31, 2/28, 3/31, 4/30, 5/31, 6/30, 7/31, 8/31, 9/30, 10/31, 11/30 and 12/31. P+L is determined by subtracting the beginning period equity from the ending period equity, and removing all cash items such as deposits, withdrawals, and fees for the period. Fees will be calculated and posted by the 10th business day after the end of a month.
Per CFTC/NFA regulation a CTA must provide âPerformance Capsuleâ based on MONTHLY (not quarter or yearly) performance. It will make sense if IB can support MONTHLY automatic billing (NEW OPTION) above to support CTA/CPO.
Do you believe if IS can support above NEW OPTION, it will significantly reduce your operation cost and increase efficient to charge adviser fee to your client accounts?
Please post your thoughts and ideas.
For Automatic Billing, IB currently at least followings two options:
Option 1. Percent of Annual Positive P&L: Entered as an annualized percentage, applied on an annually basis as of 12/31.
Option 2. Percentage of Positive Market-to-Market P&L: Entered as a percentage, applied on a quarterly basis as of 3/31, 6/30, 9/30, and 12/31. P+L is determined by subtracting the beginning period equity from the ending period equity, and removing all cash items such as deposits, withdrawals, and fees for the period. Fees will be calculated and posted by the 10th business day after the end of a quarter.
Above Option 1 is per YEAR.
Above Option 2 is per QUARTER.
But IB current does not support the follow option (per MONTH):
NEW OPTION. Percentage of Positive Market-to-Market P&L: Entered as a percentage, applied on a monthly basis as of 1/31, 2/28, 3/31, 4/30, 5/31, 6/30, 7/31, 8/31, 9/30, 10/31, 11/30 and 12/31. P+L is determined by subtracting the beginning period equity from the ending period equity, and removing all cash items such as deposits, withdrawals, and fees for the period. Fees will be calculated and posted by the 10th business day after the end of a month.
Per CFTC/NFA regulation a CTA must provide âPerformance Capsuleâ based on MONTHLY (not quarter or yearly) performance. It will make sense if IB can support MONTHLY automatic billing (NEW OPTION) above to support CTA/CPO.
Do you believe if IS can support above NEW OPTION, it will significantly reduce your operation cost and increase efficient to charge adviser fee to your client accounts?
Please post your thoughts and ideas.