bivio uses Commodity Systems, Inc. (CSI) as its source for price quotes. CSI is one of the largest suppliers of financial data to financial websites. The prices on bivio are likely to agree with those of major websites (e.g. Yahoo!).
Prior to bivio, most clubs maintained their accounting records offline, using prices from the web or their local newspaper. bivio has eliminated the menial task of entering valuations by hand and the concomitant transcription errors.
Discrepancies among Providers
There are alternative data suppliers to CSI, such as Standard and Poor's and Media General Financial Services. The databases do not always agree. We cannot dictate which database is correct. Instead, our policy is to maintain data consistency, i.e. to rely on the prices CSI gives us.
Updating historical prices is problematic. Any time a price changes, we must ensure all bivio clubs' books are correct. For irrevocable transactions, e.g. withdrawals, we must adjust for the price change. We also must notify all clubs affected by this adjustment.
Meaning of Valuation
The only true value of a club's holdings is to convert (sell) all non-cash investments. A nightly valuation of this sort would be extremely costly, of course, as it would incur commissions. Any other valuation is only an approximation.
Committed to Quality
bivio is committed to providing the highest quality service. We take the issue of data quality very seriously. Rest assured that we take the issue of price discrepancies between price databases very seriously.
We appreciate your understanding. If you notice errors in calculating your club's valuation or gross errors in closing prices, please contact us. As always, our support team will respond to the problem immediately.
CSI bases its data input on sources believed by it to be reliable and will endeavor to ensure that the data are complete, accurate and timely. However, CSI does not represent, warrant, or guarantee such completeness, accuracy or timeliness, and it shall have no liability of any kind whatsoever to bivio's customers, or to any other party, on account of any incompleteness of, inaccuracies in or untimeliness of the CSI data provided. CSI expressly disclaims all warranties of fitness of the data or computations and analyses thereof for a particular purpose or use.
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