SOURCE: Vestmark, Inc.

Vestmark, Inc.

September 30, 2013 14:00 ET

Vestmark Receives Second US Patent for Innovative Trading and Reconciliation Solution

WAKEFIELD, MA--(Marketwired - Sep 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.

About Vestmark
Vestmark provides VestmarkONE, a unified wealth management platform offering comprehensive, real time technology that enables broker-dealers, investment managers, RIAs, bank trusts, and other financial firms to deliver holistic wealth management and a full range of advisory solutions. Vestmark's experienced team works closely with clients to implement tailored solutions incorporating best practices that help firms gather more assets, increase efficiencies, and minimize operating risks. For more information about Vestmark's solutions, please call 781-224-3640, email, or visit

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