Account structure

Each participant opens an Interactive Brokers account titled to themselves. You fund it from your own bank. Then you authorize an individual non-professional advisor of Quantive Trading on that account through IBKR's standard advisor-link workflow. From that point, we can place trades inside the account. We can't move money out of it. You can revoke our access at any time from inside the IBKR portal, with no notice required to us and no cooperation required from us.

That's what a separately-managed account is: an account that the client owns and controls, with a third party, us, authorized only to trade. It's the same structure used by traditional wealth-management firms, registered investment advisors, and non-commingled quantitative trading shops. The structure exists precisely because it removes the operational and counterparty risk that a pooled fund or prime-brokered hedge fund vehicle introduces.

IBKR's own glossary puts it plainly: separately managed accounts are "individual accounts owned directly by clients but professionally managed by investment advisors, fund managers, or other financial professionals." That's the structure you'll be in.

Separation of responsibilities and capabilities

We can place trades within the constraints of the strategy. The advisor link IBKR provides is permissioned at the order-entry level only. We can buy, sell, and adjust positions in instruments the strategy targets. We can't initiate ACH or wire transfers, can't change beneficiary or address information, can't request securities-backed loans against the account, and can't grant access to anyone else. The custody relationship is between you and IBKR; we're never in that path.

Statements, tax documents, and trade confirmations come to you directly from IBKR. Quantive Trading has optional, opt-in reporting, but nothing is mandated to flow through Quantive's systems. If you stop using us tomorrow, your account, its history, and the tax basis on every position are entirely unaffected.

Linking and unlinking

A fresh account, or one that purely holds cash, is linked at the time of onboarding with Quantive. You can revoke advisor access at any time. The mechanism is a single setting inside the IBKR portal. The link is severed within minutes, after which we can no longer see or interact with the account in any way.

If you unlink during an open position, the existing position remains in the account. We can't close it, but neither can we modify it. You then have three options: hold the position, close it yourself, or transfer the holdings to another broker through ACATS. There's no penalty from our side and no fee from IBKR for unlinking. The ability to leave easily is, in our view, the most important property of the structure.

Reporting and visibility

You see what we see, and you see it through IBKR. Every order placed in your account is visible in real time inside the IBKR portal under the account's activity tab. Intraday, you have the live activity feed. Daily and monthly, IBKR generates statements that consolidate executions, positions, cash balances, fees, margin interest, and any corporate actions. At year-end, IBKR issues a consolidated 1099 with everything you need for taxes, and that document comes directly to you with no involvement from Quantive.

IBKR's reporting is comprehensive, and we'd encourage you to treat it as the primary view of your account. There's nothing to wait on from us to see what's happening, and the tax documentation at year-end is handled cleanly under your name.

On our side, we run real-time monitoring and internal communication systems that our operations team uses to keep the strategy executing on its intended cadence. Access to these systems is opt-in and determined on a case-by-case basis.