Look Who’s Talking: Penny – It Works and DTCC

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Penny - It Works back-office software for partnership and shareholder counting now exports investor activity and position files to custodians via the Depository Trust & Clearing Corporation (DTCC)

Penny's compatibility with DTCC is a big time-saver and furthers straight-through processing goals.

The latest release of TKS Solution’s acclaimed back-office software for partnership and shareholder accounting, Penny-it-Works, enables hedge funds and fund administrators export investor activity and position files to custodians and institutions through the Depository Trust & Clearing Corporation (DTCC).

DTCC has long been the leading clearinghouse of transaction and settlement information to the world’s custodians. Their entrance into the alternative investment community, through their Alternative Investment Products (AIP) suite of services allows hedge funds to transmit their investor information to a diverse group of institutions. By combining that distribution capability with Penny’s investor recordkeeping, firms now have a streamlined mechanism to effectively communicate to their institutional investors.

Says TKS Solution’s President, Ron Kashden, “Providing compatibility with DTCC was a natural progression for us. It gives our clients an easy, centralized means of communicating information to a vast array of custodians. It will be a big time saver and further funds' straight-through processing goals.”

DTCC has a high degree of acceptance among custodians, and Penny – It Works' compatibility with the DTCC platform enures that funds and administrators have an effective means of transmitting data from their accounting systems to their investors.

About DTCC

DTCC, through its subsidiaries, provides clearance, settlement and information services for equities, corporate and municipal bonds, government and mortgage-backed securities, money market instruments and over-the-counter derivatives. In addition, DTCC is a leading processor of mutual funds and insurance transactions, linking funds and carriers with their distribution networks. DTCC’s depository provides custody and asset servicing for more than 3.6 million securities issues from the United States and 121 other countries and territories, valued at US$36.5 trillion. In 2010, DTCC settled nearly US$1.66 quadrillion in securities transactions. DTCC has operating facilities and data centers in multiple locations in the United States and overseas. For more information, please visit http://www.dtcc.com.

About TKS Solutions

TKS Solutions offers unified partnership and shareholder accounting solutions for the financial industry. Its flagship software Penny® It Works is used to manage over 640 funds, providing automated and instant access to detailed investor data. Penny's open architecture and proven features easily integrate with portfolio accounting and customer relationship management systems, data warehouses and in-house proprietary solutions. Penny is used by leading hedge funds, fund of funds, private equity firms, fund administrators and management companies with assets under management ranging from $50 million to $60 billion. For more information, please visit http://www.PennyItWorks.com

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Kelly Franklin
TKS Solutions
(914) 358-0016
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