Why can the Reports differ?
The Reports are generated for different purposes and reflect different levels of record-keeping. The Broker Report contains information on completed transactions, financial result, commissions, and cash movements, and takes into account planned movements and planned balances for trades whose settlement has not yet completed. The Custody Report reflects the actual on-record balances of financial instruments and cash funds as of the reporting date. That said, certain sections of the Custody Report may contain information on executed trades and settlement dates.
Why don't the financial instrument balances match?
The most common reason is unsettled trades concluded earlier. After a trade is concluded, the Broker Report reflects the planned change in the position, while the actual on-record balance in the Custody Report will change once the trade's settlement date arrives. To check, compare the trade date and the settlement date in the “Trades Executed” section.
Why don't the cash balances match?
The Broker Report takes into account planned cash movements from concluded trades, including the planned receipt of cash from the sale of financial instruments or the planned debit for a purchase. The Custody Report shows the actual on-record cash balance. Differences can also be affected by commissions, deposits, and transfers of funds.
Why is a trade present in one Report but missing from the other?
The set of transactions in the corresponding sections may depend on the trade date, the settlement date, and the reporting period selected. If a transaction is shown in only one of the Reports, compare both dates and make sure the documents were generated for the same period.
How do I correctly reconcile the two Reports?
Generate both Reports for the same period, and check the reporting date and the settlement dates of the most recent trades. Do not compare the planned balance in the Broker Report with the actual balance in the Custody Report before settlement has completed. If a discrepancy remains after the settlement date, contact support and attach both Reports.