CTA Startup Costs

What is everyone here using for accounting? I'm going to run equities through my fund too, so I'm going to need layered accounting. Will probably use FundCount unless I can find something better. Looked at TradeDepot, but FundCount seems more solid (albeit slightly more expensive).
 
Currently I don't use anything for accounting. I only have one fund at this point and it takes very few positions so it's not too much of a headache.

Once I get my other fund going I am thinking about getting DMAXX for back office and accounting. At least I think it can be used for accounting. I'm not sure, though. I have to explore more options.

If anybody here really loves their back office and accounting software I'd like to hear about it as I am going to need it soon.
 
Quote from LongView:

Currently I don't use anything for accounting. I only have one fund at this point and it takes very few positions so it's not too much of a headache.

Once I get my other fund going I am thinking about getting DMAXX for back office and accounting. At least I think it can be used for accounting. I'm not sure, though. I have to explore more options.

If anybody here really loves their back office and accounting software I'd like to hear about it as I am going to need it soon.
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I just use Excel for my accounting. Took a lot of work to do it myself, but now it's totally integrated with my automated traded system in Excel using IB's TWS.

BTW, CPOs have to be audited every year (rule 4.22(h)).
 
My accountant uses TradeDepot, although the auditor had a harder time reconciling the outputs against IB's statements. I'm told it is the cheapest that does an acceptable job...no equities here.
 
Banjo, any idea as to the cost? Right now this is what I have for the others:

TradeDepot:

Initial Fee: $2,000
Annual Fee: $500

FundCount:

Initial Fee (small fund): $2,900
Annual Fee: $1,560

Advent Partner:

Initial Fee: $12,000
Annual Fee: $5,000


No pricing for Sungard, SS&C, PT Plus, Princeton Financial Systems, HedgeTek, MPartner, Archway Technology, Backstop solutions, Tradar, DMAXX or the other one you mentioned. I think Tradar was like north of $30k or something though.
 
Thanks to everyone for the very informative answers. Hopefully, we can keep this thread going and expound upon these answers as well as other info that might be of interest.
I have another question to add. Assuming an emerging CTA managing $1-2 million to start and with 2000-2500 RT per million per year, what commission per RT would you expect a brokerage firm to agree to?
 
Marco from Fund Count gave me an online demo of his software this morning. It looks pretty comprehensive. He also said he could customize it to fit any needs a client may have. I'm sure most of them do this but I thought it was cool.

Anyhow, just thought I'd share that I liked what I saw and hope to be using it soon. The program really has too many features to mention here. If you "google" fundcount you should be able to come up with the web site and sign up for the demo.

Just thought I'd share.

***Disclaimer
I am in no way affiliated with the company mentioned above.
 
Quote from BGB:

I would like to restart an old discussion on the costs associated with starting a CTA business and any pitfalls to be aware of. I am considering this move and would appreciate any experienced advice on the subject. Thanks alot, BGB
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I also would like to restart (or start?) the discussion about the location of a CTA or a CPO outside of the USA.

Indeed, as I live in Switzerland and as I would like to set up my hedge fund offshore (probably in Cayman Islands), I also study the CTA and CPO regulations.

However, I can't manage to find anything in the regulation frameworks linked to CTA and CPO which deals with the authorized (or forbidden?) locations outside or the USA to become a CTA or CPO.

Is it possible in Cayman Islands? In Europe? In Switzerland?
Is somebody not located in the USA ever had issues to become CTA or CPO? Or after?

Thanks in advance for your answers.
 
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