Working with Charles Schwab Interface Files · SPT is a subsidiary of The Charles Schwab Corporation separate from its affiliate Charles Schwab & Co., Inc. ... Working with Charles

PORTFOLIOCENTER®

Learning Guide: Working with Charles Schwab®

Interface

Files

i

Document ID: SPT013175 Document Date: November 24, 2014 Document Version: 1.0

For institutional audiences only.

© 2014 Schwab Performance Technologies® (“SPT”). All rights reserved

PortfolioCenter® and PortfolioCenter Hosted™ are products of Schwab Performance Technologies® (“SPT”). SPT is a subsidiary of The Charles Schwab Corporation separate from its affiliate Charles Schwab & Co., Inc. (“CS&Co”). CS&Co is a registered broker-dealer and member SIPC that provides brokerage services, while SPT licenses software and provides related technology products and services. SPT and CS&Co are separate companies affiliated as subsidiaries of The Charles Schwab Corporation, but their products and services are independent from each other. SPT's intelligent integration solutions integrate data about accounts custodied at CS&Co. Schwab OpenView Mobile displays data about accounts custodied at CS&Co. Independent investment advisors are not owned by, affiliated with, or supervised by CS&Co.

Schwab Advisor Center® is a website of Charles Schwab & Co., Inc. (“CS&Co”), a registered broker-dealer and member SIPC (sipc.org). CS&Co and Schwab Performance Technologies are affiliated as separate subsidiaries of The Charles Schwab Corporation and their products and services are independent of each other.

Schwab Advisor Services® provides custody and trading, as well as technology and other support services to independent investment advisors. Individual names, account numbers and contact information listed in this document are fictional and not intended to reflect any existing individuals. Both real and fictional securities are listed in the document. Securities and strategies reflected in the document are for educational purposes only and are not, nor should they be construed as, recommendations to buy, sell, or continue to hold any investment nor do the accounts listed reflect individual securities accounts or holdings. Any similarity to an existing individual or account is purely coincidental. Screen shots are provided for illustrative purposes only and have been abridged.

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Learning Guide: Working with Charles Schwab® Interface Files ii

TABLE OF CONTENTS

CHARLES SCHWAB INTERFACE SETTINGS _________________________________________________________________ 1

TRANSFER PARAMETERS ______________________________________________________________________________ 1

SCHWAB SETTINGS __________________________________________________________________________________ 2

PATHS AND ASSIGNMENTS ____________________________________________________________________________ 4

CHARLES SCHWAB FILE NAMES ________________________________________________________________________ 5

COMPARING PORTFOLIOCENTER CORE, ENHANCED AND STANDARD FILES __________________________________________ 5

PORTFOLIOCENTER CORE FILE NAMES ____________________________________________________________________ 6

PORTFOLIOCENTER ENHANCED FILE NAMES ________________________________________________________________ 7

STANDARD FILE NAMES _______________________________________________________________________________ 7

OTHER FILES IN THE FOLDER ___________________________________________________________________________ 7

DETERMINING WHICH FILES YOU ARE USING ________________________________________________________________ 8

Find The Files on Your Hard Drive _______________________________________________________________________ 8

WORKING WITH SCHWAB INTERFACE MAPPING TABLES ______________________________________________________ 10

SECURITIES MAPPING TABLE __________________________________________________________________________ 11

ACCOUNTS MAPPING TABLE __________________________________________________________________________ 11

Learning Guide: Working with Charles Schwab® Interface Files Page 1 of 11

CHARLES SCHWAB INTERFACE SETTINGS

PortfolioCenter® interfaces directly with more than 40 brokerage firms, custodians and mutual fund companies. Schwab is one of the commonly used custodial interfaces. Each day you will download files from Schwab Data Delivery® for the Schwab interface to use with PortfolioCenter. Contact Schwab for more information on the files they have available as well as any downloading or data issues within the file. This guide will assist you in managing the files and settings effectively once they are received by PortfolioCenter.

Note

For more information see Downloading Files Using Schwab Data Delivery.

This section details each of the settings in the Schwab Interface settings dialog. You will also find the recommended best practice for each setting to ensure you get the most out of your Schwab interface files. From the Portfolios tab, navigate to Interfaces | Schwab | Settings button.

TRANSFER PARAMETERS

The settings on this tab control the files you see and determine how certain files and parts of files are treated during conversion.

Review the chart below for a description and best practice recommendation for each setting.

SETTING DESCRIPTION BEST PRACTICE

Method for posting canceled trades

Determines how transactions to reverse prior transactions are handled – either they are canceled and left in the ledger or they are deleted from the ledger altogether.

Mark Trade As Canceled – this setting leaves the trade in the ledger so you can see it for future reference, but it does not change the position.

Display new position files

Determines if new positions appear in the positions section of the tree for the first day of posting.

Unchecked – check it only when you initially set up the Schwab interface.

Automatically override these conversion/posting warnings

Allows you to override certain warning and error messages generated when transaction files are converted.

Unchecked – for all but Receipt and Transfer message.

http://www.schwabpt.com/public/file/P-8924301/spt011745.pdf

ERROR! REFERENCE SOURCE NOT FOUND.


Note

New positions are rare and occur only during the initial setup or when accounts are transferred within Schwab, such as from another advisor. This is why the box is unchecked after you convert a position file.

SCHWAB SETTINGS

This tab displays settings that are specific to the Schwab interface. These settings determine which files are read (core, enhanced or standard files), and how they are read.

As a best practice, use the core file format available in PortfolioCenter 5.9 or above (as seen in image on the right). For more information on the core file format see the Charles Schwab File Names section starting on page 5.

If you use a version of PortfolioCenter prior to 5.9, you will see settings similar to the image on the right.

Review the chart below for descriptions and best practices for Schwab interface settings.




Link fixed income partial calls to original security

When checked, the Schwab interface will create partial call transactions for the original security instead of temporary symbols.

Checked – if your portfolios invest in Fixed Income or Bond securities

Select file format Select Core, Enhanced or Standard file format.

Use Core Format selected – using this format takes advantage of the newest Schwab files available as described in the Core files section.

Create sweep transactions

Create the sweep transactions from the Schwab Core file format in PortfolioCenter version 5.9.

Unchecked – leaving this unchecked will allow for the smoothest transition to Core files.

Create initial positions for new accounts

Creates an initial position under the positions section of the interface for each new portfolio that is defined in the interface.

Checked – so you can always see new positions as they come in and determine if they should be posted.

Use current market value as cost basis for initial positions

Replaces the default $0.00 in the cost basis field of the receipt or credit you receive as an initial position transaction with the market value as of the position date.

Unchecked – especially if you want to enter actual cost basis. Leaving this box unchecked is the quickest way to determine if you have actual cost basis or not.

Use current market value as cost basis for transactions

Replaces the default $0.00 in the cost basis field of a receipt or credit transaction with the market value as of the transaction date.

Unchecked – especially if you want to enter actual cost basis. Leaving this box unchecked is the quickest way to determine if you have actual cost basis or not.

Create flows for new accounts (receipts and deposits)

Creates a series of receipt and deposit transactions as initial position transactions.

Checked – if left unchecked, you will receive credits and journals and you must manually set the performance inception date to the day of the transactions. Manually setting this date will keep capital appreciation from showing up on performance reports.

Use RPS file instead of BLD file

Used with the standard Schwab interface files, variable annuity files, Schwab Trust and US Trust files. Not used with the enhanced interface files.

Checked – the RPS files are not used with the PC files, but if you receive files for variable annuities (VS files) or Schwab Trust (TS files), you must have this box checked.



PATHS AND ASSIGNMENTS

The paths and assignments tab displays settings that control the download program startup command and paths for data files. You can also set up mapping or assignment tables from this tab.


Download program startup command

Enter the path to the executable program that launches the download of the files. This path is linked to the download button on the Interfaces tab and allows you to download files inside the PortfolioCenter program.

Use the Download All Files shortcut on your desktop.

Paths for Data files

Enter the paths to the downloaded data files (PC*.SLT and PC*.SLB files). There should be one path for each master account, up to a maximum of 20.

Add one path for each master account at Schwab.

Security Codes Mapping table for security symbols and CUSIP numbers. This table is automatically populated each time you convert a security, price, transaction and reconciliation file.

Allow auto mapping by letting the interface conversion process automatically map the symbols for you.

Account Numbers Mapping table for portfolio account numbers. This table is automatically populated each time you convert a portfolio, transaction or reconciliation file.

Allow auto mapping by letting the interface conversion process automatically map the accounts for you.

Default Accounts Mapping table for default cash accounts. This table is automatically populated each time you convert a transaction or reconciliation file.

Allow auto mapping by letting the interface conversion process automatically map the default cash accounts for you.


CHARLES SCHWAB FILE NAMES

While you may see several types of files in your Master Account folders, there are three types of files you can use for the Schwab interface:

Core (CRS files )—as a general rule, using Schwab core data files results in more detailed data and a reduction in time spent manually supplementing or correcting data. Schwab core files allow for better reporting of bond maturity dates and interest rates, greater accuracy in security type identification, more reliable cost basis information and more.

Enhanced (PC files)—enhanced files are the most common files used and allow you to reconcile up to 5 decimal places, include ex-dates for trades and more.

Standard (CS files)—standard files are the original files, which are the least common files used in PortfolioCenter.

All Schwab Advisor Services® clients, using PortfolioCenter, currently get all three sets of files daily. For more detailed comparison of these three file types please see the table below.

Note

Schwab core data files are available in the Schwab Data Delivery downloads starting with PortfolioCenter 5.9. If you do not currently receive the core files, contact your Schwab Service Team at 1-800-647-5465 for assistance.

COMPARING PORTFOLIOCENTER CORE, ENHANCED AND STANDARD FILES

FEATURE

CORE

(CRS FILES)

ENHANCED

(PC FILES)

STANDARD

(CS FILES)

All users receive daily build file. This is beneficial for reconciliation (you do not have to rely on the build/update feature in Schwab Data Delivery) so you can rebuild a position on any date.

X

Reconcile up to 5 decimal places. Both transactions and positions/reconciliation files have a precision of 5 decimal places for more accurate reconciliation and fewer variances by less than .0001 of a share.

X X

Transactions are sent with 4 decimal place precision, while reconciliation is sent with 3 decimal place precision. Occasionally, you have a position off by .0001 a share.

X

Includes enhanced information, such as dividend ex-dates so you can more easily produce accrued income for equity and mutual fund securities.

X X

May be missing some information, such as dividend ex-dates. To produce accrued income for equity and mutual fund securities, you have to manually enter the ex-dates in the security details.

X

Includes actual settlement dates for trades. X X

Settlement dates are estimated by PortfolioCenter, using the security type defaults.

X

Fewer posting challenges due to temporary security ID numbers, especially for partial calls of fixed income securities.

X X

Additional notes on journal transactions, indicating that the transaction is for a Cash in Lieu for Fractional Shares, due to a corporate action.

X X

No message to help you figure out if the journal is for a corporate action. X

Position cost basis information. Initial position trade lot cost basis information. X



PORTFOLIOCENTER CORE FILE NAMES

In all the examples below, Client Reporting Services (CRS) indicates the file is a core file, with yyyymmdd representing the date.

Note

PortfolioCenter versions 5.8 and later only read the ACC, ULT, ULN, and the RLD Core files. UPT, UPN, and RLY files are currently not read by any PortfolioCenter version.

FILE NAME BACKUP EXTENSION INFORMATION IN FILE

CRSyyyymmdd.SEC N/A Security /Price file. The file contains prices for all securities your clients hold at the custodian as well as securities detail information.

CRSyyyymmdd.ACC N/A Portfolio Name and Address file containing contact information and additional Schwab Advisor Center® account settings.

CRSyyyymmdd.RPS N/A Position/Reconciliation file containing portfolio and security positions.

CRSyyyymmdd.ULT N/A Position/Cost Basis Reconciliation file (Taxable Accounts) containing trade lots and cost basis information for held positions in taxable accounts from the previous day.

CRSyyyymmdd.ULN N/A Position//Cost Basis Reconciliation file (Non-Taxable Accounts)containing trade lots and cost basis information for held positions in non-taxable accounts from the previous day.

CRSyyyymmdd.TRN BAK Transaction file containing the previous business day’s transactions.

CRSyyyymmdd.RLD N/A Transaction/Daily Realized Gain Loss file containing positions and cost basis information for sold positions in taxable accounts. (Reads just sell transactions and matching methods in PC versions 5.6 or higher).

CRSyyyymmdd.UPT N/A Cost Basis Reconciliation file (Taxable Accounts) containing positions and cost basis information for held positions in taxable accounts from the previous day.

CRSyyyymmdd.UPN N/A Cost Basis Reconciliation file (Non-Taxable Accounts) containing positions and cost basis information for held positions in non-taxable accounts from the previous day.

CRSyyyymmdd.RLY N/A Year to Date Realized Gain Loss file is generated on each month end and contains positions and cost basis information for sold positions in taxable accounts.

Note

The cost basis files for taxable accounts are scheduled to be available daily at 8am EST and the cost basis files for non-taxable accounts are scheduled to be available daily at 11am EST.



PORTFOLIOCENTER ENHANCED FILE NAMES

In all the examples below, PC indicates the file is an enhanced file with mmddyy representing the date.


PCmmddyy.SLB N/A Position or build file containing portfolio and security details, such as names, account numbers, security prices, positions, etc.

PCmmddyy.SLT PCmmddyy.BKT Transaction file containing the previous day’s transactions.

STANDARD FILE NAMES

In all the examples below, CS indicates the file is a standard file with mmddyy representing the date.


CSmmddyy.UPD

CSmmddyy.BKU

.BKU Position or build files containing portfolio and security details, such as names, account numbers, and account positions.

CSmmddyy.BLD

CSmmddyy.BKB

.BKU Update file containing portfolio name and address update information as well as the mortgage-backed factors.

CSmmddyy.PRI .BAP Price file containing prices for all securities your clients hold at the custodian.

CSmmddyy.TRN .BAK Transaction file containing transactions for all securities your clients hold at the custodian.

CSmmddyy.RPS N/A Reconciliation file generated by the Build/Update process in SchwabLink and is not downloaded with the rest of the files. It is the file PortfolioCenter uses to generate the Reconciliation Report.

OTHER FILES IN THE FOLDER

In addition to both file types listed above, you could also have other file types listed in the folder:

FILE NAME INFORMATION IN FILE

CSmmddyy.CNF

CRMyyyymmdd.TCF

Confirmation files containing the trade confirms that you can see in Schwab Data Delivery Data Viewer.

CSmmddyy.DEP Shows only deposit and withdrawal activity.

DD.PCmmddyy.SLB.xx.Position

DD.PCmmddyy.SLB.xx.Balance

DD.CSmmddyy.BLD.xx.Position

DD.CSmmddyy.BLD.xx.Balance

Data Delivery Balance and Position files containing all the position and balance information that allows you to see historical data in Schwab Data Delivery Data Viewer. These files are either downloaded or created by the Viewer if the .BLD or .SLB files are in the directory the Data Viewer is pointed to at the time you are requesting a view of historical data.

CSmmddyy.TOA Transfer of Asset files that show information about the transfer of assets to Schwab, either from Retail or from another custodian.



FILE NAME INFORMATION IN FILE

VSmmddyy.PRI

VSmmddyy.TRN

VSmmddyy.RPS

Variable annuity files containing price, transaction and position information for variable annuity products.

TSyyyymmdd.PRI

TSyyyymmdd.TRN

TSyyyymmdd.RPS

Trust files containing price, transaction and position information for trust products.

Note

Other files may appear in this folder from time to time, depending on the activities your firm engages in. If you do not see the file type listed here, contact Technical Client Services at 800-647-5465 for more information.

DETERMINING WHICH FILES YOU ARE USING

If you have requested the enhanced files or core files from Schwab Advisor Services, you must enable the Schwab Interface Setting to read the file. Follow the steps below to determine if you are reading the core files (CRS), the enhanced files (PC files) or the standard files (CS files).

FIND THE FILES ON YOUR HARD DRIVE

The purpose of this step is to make sure that you are downloading the PortfolioCenter core files (CRS) in addition to the standard Schwab files (CS files). For each master, you should receive one set of each file type.

Follow these steps on the PortfolioCenter database server to get the correct data path.

1 Open Windows Explorer: Start | Programs | Accessories | Windows Explorer.

2 Click the Search button, located under the Tools menu, as shown in the example to the right.

3 The search companion box opens. Click the All files and folders link.

4 Enter CRS*.SEC in the File Name field to locate core files. Select My Computer in the Look In field.

Click the Search button.



5 The location of the files is found in the In Folder column, as shown on the right.

Note

You should see a path for each Master Account for which you download files. Make sure all master accounts are represented. If you are missing a Master Account, contact Technical Client Services at 800-647-5465 for assistance.


WORKING WITH SCHWAB INTERFACE MAPPING TABLES

The interface mapping tables are tools that assign information provided from Schwab to items in your PortfolioCenter database. The following section explains what mapping tables are and how to use them.

There are two mapping tables in the Schwab interface: (1) Security Codes and (2) Account Numbers. The Security Codes mapping table gives you the ability to assign a security symbol or CUSIP number you receive through the interface to a different symbol in PortfolioCenter. Use the Security Codes mapping table to assign temporary CUSIP numbers or when you receive a symbol change for a security.

The Account Numbers mapping table gives you the ability to assign transactions and portfolio data you receive from the custodian to a different account number in PortfolioCenter. Use the Account Numbers mapping table to consolidate transactions into a single account number.

By default, any time you convert a security, portfolio, transaction or reconciliation file, you are accessing or writing to the mapping tables. In most cases, you will not have to edit the mapping tables – simply posting data through the interface should populate and automatically assign items appropriately. However, there may be situations when you will need to edit the mapping tables to customize your data.

To access the mapping tables:

1 From the Portfolios tab, navigate to Interfaces | Schwab.

2 Click the Settings button.

3 Click the Security Codes… button to access the Assign Security Codes mapping table, or click the Account Numbers… button to access the Assign Account Numbers mapping table.

See the sections below for more information about how to edit each of the mapping tables.

WORKING WITH SCHWAB INTERFACE MAPPING TABLES


SECURITIES MAPPING TABLE

In the securities mapping table, you can assign a security symbol received from Schwab to a PortfolioCenter symbol. In this scenario, it is possible to see two entries for each security – one for the ticker symbol and one for the security CUSIP number.

To assign a security, click the ellipsis button in the PC Symbol column and select the appropriate PortfolioCenter Symbol. The type and description information should automatically update with the correct type and description.

Item Issue Id and Rule Set numbers are Schwab’s internal security and transaction numbers respectively. These fields are not editable. Industry Symbol will be populated for most securities except fixed incomes.

On the Web

The security mapping table is automatically updated when symbols are combined. See Combining Symbols for more information about combining symbols and the steps to take to combine them.

ACCOUNTS MAPPING TABLE

In the accounts mapping table, you can assign an account number received from Schwab to a PortfolioCenter account number. You can also assign several interface accounts to one PortfolioCenter account.

To assign accounts, click the ellipsis button in the PortfolioCenter Account column and select the account. The description column automatically updates with the correct account description.

Check the Block Transactions checkbox to automatically block transactions that come through the interface. This setting is particularly useful for closed accounts or accounts you no longer want to appear on the reconciliation report.

On the Web

You can use the Block Transactions setting to indicate that a portfolio should not appear on a reconciliation report. For more information about finding missing portfolios on an interface reconciliation report, see Customizing the Share Reconciliation Report.

https://schwabpt.com/pdflibrary/open.asp?id=011394

https://schwabpt.com/pdflibrary/open.asp?id=010055

Documents

Working with Charles Schwab Interface Files · SPT is a subsidiary of The Charles Schwab Corporation separate from its affiliate Charles Schwab & Co., Inc. ... Working with Charles