Wash Sale In The Financial Services It Applications

Recent years, IT industry has been developing very rapidly, more and more technologies are ready for developing powerful applications. In the meantime, growing financial market also put on more pressure on the U.S. mutual fund managers. One of the labor-intensive work is to identify and track the wash sales from the trades according to the Internal Revenue Code wash sales rules from Internal Revenue Service.The rapidly growing financial requirements pushed the financial persons to look for better solutions with the help from IT technology. When IT technologies are applied to this domain, the situation is changed. Involving many newly developed wash sales software, wash sales rules are no longer a headache of the financial persons.This thesis mainly focuses on how IT helps to provide this wash sales financial service. Based on the business background of wash sales and one example of the wash sales applications, this thesis gives an overview on how IT helps to solve this financial requirement by using various IT technologies including Linux, Websphere MQ, Oracle Database, J2EE and so on. More detailed implementation in Database part is also covered to give more explanation on this approach including the physical and logical design and implementation of the application in Oracle Database. Furthermore, besides the implementation part of this wash sales application, some improvement work is introduced to give some concepts about the improvement process in IT software engineering on performance and functionality.In a word, IT technology successfully helps the financial persons to offer the wash sales financial service. We believe that the future development of IT technologies will not only benefit the financial domain, but also benefit many other domains. IT will play a more and more important role in our world.