(RIVERWOODS, ILL., March 17, 2004) – Terra Nova Trading, L.L.C., the premier direct access online brokerage, has announced the implementation of CCH GainsKeeper® tax lot accounting tools. GainsKeeper will allow Terra Nova customers to calculate tax liabilities that result from trading activities in their brokerage accounts. GainsKeeper will also automatically alert them to the impact of wash sales and other events that can affect taxes. Customers of Terra Nova can utilize this tax lot accounting service by downloading historical transactions into GainsKeeper.
Terra Nova’s senior vice president, David Lipsett, said, “We’re continuously seeking out services and opportunities that add value for our clients. Our commitment to their success is comprehensive—from trader education to market reports to our 24-hour trade desk. With GainsKeeper, we provide yet another in-house piece of technology that our clients don’t have to go searching for—it’s all at their fingertips.”
GainsKeeper’s system will automatically update the cost basis of positions to reflect wash sales and corporate actions, such as mergers and splits, leading to recording capital gains calculations throughout the year. As an added bonus, Terra Nova has also obtained a promotional discount from GainsKeeper for its customers.
“We’re happy to implement a dynamic service like GainsKeeper,” said Chris Doubek, president of Terra Nova Trading. “Offering this product furthers our mission of providing our clients with the comprehensive package of tools and services they need to better themselves as traders while simplifying their methods to manage the tax implications of their trading.”
About Terra Nova Trading, L.L.C.
Terra Nova Trading, L.L.C. is a broker dealer and an experienced leader in online, direct-access trading solutions for active investors. Terra Nova’s clients are equipped with dynamic real-time quotes and charts through the completely customizable RealTick® software platform provided by Terra Nova’s technology partner, Townsend Analytics, Ltd. Traders route orders to competitive markets and receive live order and account updates. Terra Nova was the sponsoring broker dealer of one of the most active ECNs in the nation, Archipelago, and remains one of its largest subscribers. Terra Nova’s clients were among the first to enjoy Archipelago’s premier access to the marketplace. Founded in 1994, Terra Nova is headquartered in Chicago. RealTick is a registered trademark of Townsend Analytics, Ltd. All securities and futures offered through Terra Nova Trading, L.L.C., member NASD, NFA, SIPC, PCX and ISE. For more information, visit the Terra Nova web site at www.terranovatrading.com.
About CCH INCORPORATED
CCH INCORPORATED, a Wolters Kluwer company, was founded in 1913, and has served four generations of business professionals and their clients. CCH GainsKeeper (gainskeeper.com), based in Quincy, Mass., is the leading provider of automated tax-based financial tools and services for the investment community and is a division of CCH. GainsKeeper Institutional Services (GKIS) provides solutions for financial institutions, enabling its partners to offer sophisticated tax lot accounting to their customers without incurring the high cost of building, maintaining, and housing the systems and operations necessary to provide institutional-quality service. GKIS serves the advisor, brokerage, mutual fund, and fund administration industries, providing solutions ranging from back-office outsourcing to fully integrated Internet-based tools and services. Additional information is available at www.GKIS.net, via e-mail to firstname.lastname@example.org, or by calling 617-472-3314.