Mutual Funds

Trading System
PIPS and SWIPS
Model Portfolios
Breakpoint Tracking
Straight Through Processing

Trading System

Legent’s mutual fund trading system allows investors to buy, sell, or exchange load or no-load mutual fund shares. Investors have the flexibility of choosing either cash or reinvestment options for dividend and capital gain distributions. Included in this offering is the ability to trade using periodic investments (PIPS) and systematic withdrawals (SWIPS). Trades may be entered via the TTS back-office, Thomson workstation (ILX), AFS workstation or via a proprietary front-end system which meets TTS's specifications for intra-day uploads (using BL Server code).

PIPS and SWIPS

The PIPS and SWIPS functionality allows investors the flexibility to set recurring, automated trade requests for any fund offered through Legent. Periodic transactions can be requested with the following time frames: Annually, Semi-Annually, Quarterly, Bi-Monthly, Monthly, Weekly or Daily. The investor also has the ability to skip months without canceling the overall request.

Model Portfolios

Investment professionals have the ability to create proprietary open-end mutual fund Model Portfolios. To begin, the investment professional chooses funds from the Legent mutual fund list. Once the portfolio of funds is created, the investment professional sets the percentage allocation for each fund within the Model. Once the Model is complete, the investment professional submits the newly created Model to Legent. Legent builds the requested Model into the trading system for use by the correspondent.

Breakpoint Tracking

Investment professionals have the ability to link client brokerage accounts for mutual fund break point tracking purposes. Brokerage accounts held with Legent may be linked via the TTS back-office system. Qualifying 'off the books' mutual fund assets can be linked as well. All linking is managed by the investment professional using the TTS back-office system.

Straight Through Processing

Legent utilizes the NSCC's Fund/SERV and networking system. This platform allows for straight through processing for the following categories: Order confirmations, trade settlement, dividend and capital gain payments, mutual fund concession payments and 12b-1 payments.