GainsKeeper Press Release
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Boston - 3/22/05
GainsKeeper® (www.gainskeeper.com) announced today that Interactive Brokers (IB), a global direct-access brokerage firm, has selected its automated tax lot accounting services to provide Interactive Brokers (IB) retail customers with tax-efficient trading strategies. GainsKeeper is a part of Wolters Kluwer Corporate & Financial Services.
"IB is pleased to give its customers access to GainsKeeper, a premier service in its field," Interactive Brokers Managing Director Steve Sanders, said. "It is our goal to partner with the best."
Using GainsKeeper tools, IB customers will be able to automatically calculate their tax liabilities and generate the Schedule D tax return, significantly reducing the risk of errors or overpayment of taxes on investments while saving them time during tax season. Additionally, IB customers can use GainsKeeper to alert them year-round to the impact of wash sales, corporate actions, and other events within their IB accounts which could impact the tax efficiency of their holdings.
"For nearly three decades, IB has been on the leading-edge of building direct access trading technology that delivers unique advantages to its customers" recently evidenced by its leading position in Barron's 2005 ranking of on-line brokerages," Cameron Routh, head of partner relations for GainsKeeper, said. "We're pleased to have GainsKeeper incorporated into this strategy, offering even greater advantages and cost savings to IB customers."
About Interactive Brokers
Greenwich, Conn.-based IB offers Universal Direct-Access Trading and sophisticated trade management tools at low costs to professional traders and investors worldwide. IB provides low-cost execution and clearing services to trade stocks, options, futures, forex, and bonds on over 50 exchanges and marketplaces in 14 countries.
In its 2005 annual survey of on-line brokerage firms, Barron's ranked IB as the number-one software-based broker, with a perfect 5.0 rating in the trading costs category.
IB, with a capitalization of $1.8 billion, is ranked as the 20 th-largest U.S. broker-dealer by Institutional Investor.
About GainsKeeper
GainsKeeper, a part of Wolters Kluwer Corporate & Financial Services division, provides automated tax-based financial tools and services to the investment community. GainsKeeper Institutional Services (GKIS) provides application service provider (ASP) solutions for financial institutions, enabling them to offer sophisticated tax lot accounting services to their customers without incurring the high cost of building, maintaining, and housing the systems and operations necessary to provide institutional-quality service. GKIS solutions-ranging from back-office outsourcing to fully integrated, Internet-based tools and services-are utilized by the brokerage, mutual fund, and fund administration industries.
Wolters Kluwer is a leading multinational publisher and information services company. The company's core markets are spread across the health, tax, accounting, corporate, financial services, legal and regulatory, and education sectors. Wolters Kluwer has annual revenues (2004) of €3.3 billion, employs approximately 18,400 people worldwide, and maintains operations across Europe, North America, and Asia Pacific. Wolters Kluwer is headquartered in Amsterdam, the Netherlands. Its depositary receipts of shares are quoted on the Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices.