Import from First Clearing

If you have already downloaded your First Clearing files and initialized positions, go to Step 3.

STEP 1: DOWNLOAD FILES FROM FIRST CLEARING

First Clearing file types: Download files from First Clearing to import. If you do not know how to download these files, please contact First Clearing and they can help you with this step.

Required file types:

File Type

Description

POS

Position file

PRI

Price file

TRD

Client name and address file

SEC

Security information file

TRN

Transactions file

INI

Initialization file (Cost basis file)

 

Make sure you have all of the above file types. If you are missing one or more file types, the import will not be complete. If you do not have an INI file, contact First Clearing. They can refresh your data for you and you will receive an INI and a TRD file.

Save all the files you download/export from First Clearing to the same folder on your computer. The further back you can go and export data from First Clearing the better as this will bring in more of your clients’ transaction history. To ensure you capture all transactions taking place, export every day’s available files from First Clearing to your folder.

 

STEP 2: INITIALIZE POSITIONS

What is initializing of positions? Since you cannot export your client’s entire transaction history which can span several years, you need a starting point. When you initialize, we look at the earliest available position file, find out the balances in all the holdings and enter a BUY transaction of that balance on the date of the position file.

  1. Open Morningstar Office. On the top menu bar, click Import. The Import area opens in separate window.

  2. In the Interface Name column, check the box to the left of First Clearing. On the Action Shortcuts tool bar, click Initialize Positions. The First Clearing Initialize dialog opens.

  3. In the File Name box, click the magnifying glass icon to locate and select the folder on your computer where you have saved all the exported files.

  4. Click Get earliest date.

  5. Click Initialize. The Import blotters open.

  6. In the left column, click the blotter types to review the information.

  7. Click Post To Account. The information posts and clients and transactions are created. You have now initialized your positions and you will not have to repeat this step with First Clearing imports.

STEP 3: IMPORT

Here are the steps for the regular First Clearing import.

  1. Open Morningstar Office. On the top menu bar, click Import. The Import area opens in separate window.

  2. In the Interface Name column, double-click First Clearing. The First Clearing dialog box opens.

  3. In the File Name box, click the magnifying glass icon to locate and select the folder on your computer where you have saved all the exported files.

  4. In the Start Date box, enter the date after the initialize date (this date should appear as the default option). For example, if you initialized on 9/29/2005, enter 9/30/2005.

  5. In the End Date box, enter any date. For example, if you want to bring in a week’s worth of data at a time, enter a date a week after the start date.

  6. Once you enter the End Date, the import dialog will display which files are available for import within the specified date range.

  7. Click OK. The Import blotters appear and you can review the data.

  8. Click on Reconcile if you would like to check to make sure your positions and transactions match up with the custodian data.

  9. Click Post to Accounts.

Note: Do not duplicate the dates. For example, if you selected an end date of 7/13/2006, the next import should start on 7/14/2006. If you re-use the same date, you will get duplicate transactions in your accounts.