1st Discount Brokerage Selects Scivantage MaxitTM to Deliver Automated Cost Basis Reporting to Its Financial Consultants and Retail Traders

Sophisticated Tax Management and Portfolio Reporting Capabilities to be
Integrated into 1DB`s Professional and Online Brokerage Platforms
JERSEY CITY, N.J.--(Business Wire)--
Scivantage, a leading provider of Web-based, front- and middle-office technology
solutions to the financial services industry announced today that 1st Discount
Brokerage (1DB), a national independent brokerage firm, has selected Scivantage
Maxit, to provide automated cost basis reporting and tax management tools to
their network of Independent Financial Consultants and retail traders.

1DB recognizes that providing access to accurate, relevant tax information is
essential in today`s volatile environment. The company will leverage Maxit to
provide on-demand access to critical tax management and portfolio reporting
tools, enabling its Financial Consultants and retail traders to make better
trading decisions and to simplify year-end tax filing. Maxit will be available
to all of 1DB`s Independent Financial Consultants as a premium service, as well
as integrated into their online brokerage platform to help both equities and
options traders minimize tax liabilities and increase after-tax performance. The
combination of fast and powerful analytics with accurate cost basis data will
allow their Financial Consultants and retail clients to optimize their
investment strategies in real-time.

"Tracking cost basis has always posed challenges for both financial advisors and
individual investors," said William "Chip" Corley, founder and CEO of 1st
Discount Brokerage. "Leveraging the Maxit technology allows us to serve our
Financial Consultants and retail clients more effectively by providing access to
accurate, adjusted cost basis information and enabling them to proactively
manage their investments from a tax perspective."

"In today`s highly competitive market, leaders like 1DB leverage the most
advanced solutions to help their financial advisors and individual investors
simplify complex investment decisions," said Cameron Routh, senior vice
president of strategic products, Scivantage. "We are very excited to continue
our partnership with 1DB and look forward to helping them build an even stronger
strategic advantage."

Maxit is the most comprehensive, automated cost basis and portfolio tax
reporting system available, delivering a full range of tools that help financial
advisors and individual investors track capital gains, generate Schedule D for
tax filing and proactively manage investment tax decisions. This enterprise
solution seamlessly integrates with all major and proprietary back office and
clearing systems and delivers a full suite of tax-based investment decision
support tools, including:

Portfolio Tracking & Optimization

* Full support for 1DB`s investment product offerings, including stocks, mutual
funds, index and stock options, ETFs, and bonds
* Automatic wash sale identification and adjustment
* Proper lot relief methods including FIFO, LIFO, Specific ID, MaxTax and
Average Cost and MinTax, a tax efficient method available only with Maxit

Corporate Actions

* Automatic support for corporate actions across a client`s account while
maintaining cost basis integrity

* A few of the corporate events supported include: Split/Reverse Split;
Rights/Warrants; Stock Dividend; Merger with or without cash; Spin off;
Dividend/Dividend reinvested; Redemptions/call; Cash-in-lieu

* Accounts for cost basis changes due to voluntary corporate actions, LEAP
conversions and corporate actions on options

Tax Management & Reporting

* Tax lot matching and short-term/long-term characterization
* Real-time, actionable trade analysis of short- and long-term gain/loss
opportunities
* Customized tax reports for realized and unrealized gains/losses, IRS Schedule
D and Form 6781
* Configurable Advisor Dashboard provides a real-time snapshot of portfolio
activity across an entire book of business

For more information about Scivantage Maxit or to stay informed on the latest
information about the newly enacted cost basis reporting law, visit Scivantage`s
Basis Reporting Knowledge Base at www.basisreporting.com.

About 1st Discount Brokerage

1st Discount Brokerage is a nationwide provider of investment services committed
to delivering value-added tools and personalized service. Since its inception in
1995, 1DB has dedicated itself to providing quality financial services. The
blend of experienced management, a service-centered support staff, world-class
products, and cutting edge technology all contribute to providing a superior
investing experience.

1DB was born out of an entrepreneurial drive to create an Independent
Broker/Dealer that encourages its investment professionals to think outside the
box. We feel that when investment professionals-whether they are Independent
Financial Consultants, managers or support staff-are given the freedom to pursue
better ideas they can create innovative and practical solutions. It`s this kind
of proactive thinking that has allowed our organization to grow and flourish,
even in the most difficult of times.

About Scivantage

Leading financial institutions depend on Scivantage for essential front- and
middle-office applications that deliver transaction-critical data, automate key
business processes and drive operational efficiencies. Scivantage`s proven,
back-office independent brokerage solutions offer a powerful suite of
applications that span the workflow of financial professionals and support the
complex investment needs of the retail investor. From online trading and event
notification management to automated account opening, maintenance and funding,
Scivantage enables financial institutions and financial professionals to
dramatically reduce operational costs, strengthen customer relationships and
improve productivity. For more information, please visit www.scivantage.com or
contact us at +1.866.724.8268.

Enabling Financial Transactions.> Automate> Connect> Transact

Scivantage
Elise Birkmeier, +1-646-452-3267
Marketing
elise.birkmeier@scivantage.com

Copyright Business Wire 2009