Depending on each account's activity at the Custodian, an account may show as 4 different statuses within our system.
They are: Papered, Funded, Stale, and Closed
Below are the account behaviors that may trigger the status of the account to persist or update it's status. The status is updated at the start of each day based on the data we received from the custodian for the end of the day prior.
Papered:
A new account reflects within Atlas but has not yet been funded.
Funded:
The account has been funded and is a live and active account.
An account may change from closed back to funded if the account receives assets in it again. As a result, in specific circumstances accounts may change from Stale back to Funded once the current data is received. Accounts may also change from Closed back to Funded if capital is deposited back into the account
Stale:
The account does not have updated data from one or more days prior.
This is likely due to the custodian not communicating updated information on this account to BridgeFT. If an account’s last position date or last transaction date is older than yesterday (last market date to be specific), then the account will be considered as stale.
Closed:
Once an accounts Balance reaches $0.00 then our system will classify that account as a Closed status.
*Note: Please keep in mind the custodians send us data as of the end of the market day prior, our system will be up to a day behind on this information across the accounts.