How PropReports Prices Securities
- Sai Man Wong
- Brent Bergh
- Noah Keats
- Oleg Barshay
PropReports does its best to locate and use the most accurate closing prices available when pricing securities held overnight. However, please be aware that closing prices are only an approximation of value and can be notoriously unreliable for thinly traded or illiquid securities.
We use a variety of public and premium market data sources as well as pricing data provided by the DMA platforms and clearing firms whenever available. When presented with conflicting pricing information, PropReports attempts to use the data from what it considers to be the "highest authority". The degree of authority is determined by the nature of the source providing the pricing.
From lowest to highest:
- Any 3rd party data source (e.g. Yahoo Finance)
- DMA platform
- Clearing Firm
- Manually Entered (see Adjusting a Closing Price)
Should two sources have the same level of authority, the precedence is determined alphabetically. For example, if a customer clears with Wedbush and Apex, Apex pricing will take precedence over Wedbush.
You may also upload your own prices via a file. Please note that once you upload a pricing file, you will not have the option to delete the file on the upload screen like you can for other types of uploads. To correct some or all of those prices, you must re-upload another pricing file with the correct data. Uploading the corrected file will over-write the pricing info seen in the original file.