NEXIOS BD against the real alternative — a retainer you pay forever, or a license you buy once.
Small introducing broker-dealers don’t pick between a handful of same-priced net capital tools. Today the real choice is a $1,500–$7,500/month outsourced FinOp retainer, an enterprise RegTech platform built for firms ten times your size, or a spreadsheet and hope. Here’s where NEXIOS BD actually sits against each one.
NEXIOS BD’s own listing reads “email for current discount price.” The one-time figure used here is a recommendation for your review, not a confirmed or published price.
What the outsourced retainer actually costs over time
Multiple FinOp outsourcing providers quote $1,500–$7,500/month depending on transaction volume, business lines and complexity — a recurring cost with no ceiling and no end date, for work a self-hosted platform can run continuously from your own ledger.
36-month view, retainer fee only (the published $1,500–$7,500/month range covers typical scope; some firms pay more for additional business lines or project work on top). NEXIOS BD’s one-time price is a recommendation for your review, sized at roughly 2–3 months of a mid-range retainer — replacing it for good, not refreshing it every year.
Four real vendors — built for a different buyer
Software for net capital and FOCUS reporting does exist, but every vendor we found sells to carrying broker-dealers, clearing firms, banks and large institutions — not the small introducing firm NEXIOS BD is built for. None publishes pricing; all are sold through a sales process, which itself tells you the buyer they expect.
Softek
Automated SEC 15c3-1 net capital engine with FOCUS schedule population; also covers CIRO (Canadian) requirements. Sold to broker-dealers and prop trading firms broadly, not scoped to small IBDs specifically.
quote-only, not publishedDASH RegTech
FOCUS Generator built on a 15c3-1 engine, producing eFOCUS-format filings. Covers Form II (carrying/clearing) and Form IIA (non-carrying/non-clearing) — the same IIA scope NEXIOS BD targets.
quote-only, not publishedRegnology Reporting Hub
SaaS platform covering net capital, the customer reserve calculation, and submission to the SEC, FINRA and SIPC. An enterprise regulatory-reporting suite, not a small-firm product line.
quote-only, not publishedAxiomSL (Adenza)
Cloud platform with end-to-end net capital automation and FINRA AEP file generation. Its own published case study is a large international securities firm — a strong signal of who this is priced for.
quote-only, not publishedNEXIOS BD
Built specifically for small introducing broker-dealers: one general ledger drives the trial balance, the full net capital waterfall, FOCUS Part IIA workpapers, SIPC-7 and 17a-11 monitoring together — self-hosted, no seat count, no annual renewal.
$3,999 one-time, recommendedFeature by feature, where it’s publicly documented
None of the four enterprise vendors publish a detailed feature breakdown the way QuickBooks or Xero do — this reflects only what each vendor states on its own site. “Not disclosed” means genuinely not stated, not assumed absent.
| Feature | NEXIOS BD | Softek | DASH RegTech | Regnology | AxiomSL |
|---|---|---|---|---|---|
| Net capital waterfall (15c3-1) | ✓ | ✓ | ✓ | ✓ | ✓ |
| FOCUS Part IIA generation | ✓ | ~schedule auto-population; form scope not detailed | ✓ | ✓ | not disclosed |
| SIPC-7 calculation | ✓ | not disclosed | not disclosed | ✓ | not disclosed |
| Rule 17a-11 early warningcontinuous, not just period-end | ✓ | not disclosed | not disclosed | not disclosed | not disclosed |
| Is the general ledger itselfvs. a reporting layer over your existing books | ✓ | × | × | × | × |
| Hosting | self-hosted, your own server | not disclosed | cloud (vendor-hosted) | cloud SaaS (vendor-hosted) | cloud (vendor-hosted) |
| Tamper-evident audit logcryptographic hash chain | ✓ | not disclosed | not disclosed | not disclosed | not disclosed |
| Maker-checker approvalsblocks self-approval on journal entries & filings | ✓ | not disclosed | not disclosed | not disclosed | not disclosed |
| Clearing-firm reconciliationintroducing-firm model specifically | ✓ | not disclosed | not disclosed | not disclosed | not disclosed |
| Form Custody & SSOI filings | ✓ | not disclosed | not disclosed | not disclosed | not disclosed |
| Examiner export packXLSX/CSV/JSON, tie-out formulas, per period | ✓ | not disclosed | not disclosed | not disclosed | not disclosed |
| Compliance calendarFOCUS/Custody/SSOI deadlines, market holidays | ✓ | not disclosed | not disclosed | not disclosed | not disclosed |
| Backup & Retention Vaultbring-your-own-cloud, 17a-4(f)-ready | ✓ | not disclosed | not disclosed | not disclosed | not disclosed |
| Built/sized for small introducing B-Ds | ✓ | ~broker-dealers broadly, not small-specific | ~all US B-Ds filing II/IIA, broad | ×enterprise reporting suite | ×case study is a large int’l firm |
| Pricing model | one-time license | quote-only — none of the four publishes pricing | |||
A real back office, not just a calculator bolted onto your books
The enterprise platforms on this page are reporting layers that sit on top of whatever general ledger a firm already runs. NEXIOS BD is that ledger — day-to-day operations and regulatory compliance read from the same posted entries, never two systems you reconcile by hand against each other.
Chart of accounts, journal entries, posting periods, trial balance — the actual books, not a summary import.
Journal entries, capital-impacting account changes, and FOCUS/SIPC certification all require a second person — self-approval is blocked at the server, not just hidden in the UI.
Built for the introducing-firm model specifically: deposit, receivable/payable and proprietary positions held at your clearing firm, reconciled against their statement.
Aged on calendar dates with an “arose on” field — feeds directly into the net capital allowable/non-allowable split.
Tracked and tied into the non-allowable asset side of the net capital computation.
Live Plaid feeds on your own developer keys, plus Excel-template bank import for institutions outside Plaid’s coverage.
Can’t deactivate or demote the firm’s last active admin, and can’t deactivate yourself — a real operational guard rail, not a theoretical one.
Business-day filing deadlines (FOCUS, Form Custody, SSOI) against a real market-holiday table, with filed-status tracking per period.
Pushes an encrypted, versioned snapshot of your books to a cloud bucket you own — bring-your-own-cloud, built for SEC 17a-4(f) immutable retention. NEXIOS never holds the keys or sees the bucket.
The regulatory math, live and filing-ready
Every figure below recomputes the moment a journal entry posts — nothing here is a once-a-quarter spreadsheet exercise someone has to remember to update.
Full SEC Rule 15c3-1 computation (basic/aggregate-indebtedness method, the standard for introducing firms), live from posted ledger entries.
Aggregate-indebtedness-to-net-capital ratio, including the stricter 8:1 first-year-firm threshold.
Position-level haircuts including Rule 15c3-1(c)(2)(vi)(M) undue-concentration charges, with rule-version and staleness warnings on both haircuts and positions.
Correctly rounded half-away-from-zero per line, with a rounding-reconciliation row and threshold-flip warnings — FOCUS doesn’t accept cents, and this gets that detail right.
Securities-in-possession/control and the quarterly Supplemental Statement of Income, the other two filings every introducing firm’s FinOp actually handles alongside FOCUS.
Upload your firm’s own eFOCUS Excel template once, map it, reuse it — preview with unmapped-cell warnings, never auto-submits.
Greater of the two statutory tests plus the 0.02% minimum, live.
Same-day and 24-hour notice triggers computed continuously, not at period end — and can SMS your compliance officer the moment one fires, via your own NEXIOS Communications workspace.
Per-period XLSX workbook + CSV/JSON bundle an examiner can work from directly — trial balance, GL detail with maker/checker, net capital lines, FOCUS draft, clearing reconciliation, audit-log hash chain, with live tie-out checks.
Append-only at the database level (not just application-enforced), tamper-evident hash chain on every entry.
Sign-off requires a real session, a typed legal name, and explicit confirmation — not a flag someone can flip.
Sources
- NEXIOS BD feature set — the public listing at polyapps-ai.com/product/bd-accounting-suite, read directly, 2026-10-23.
- Outsourced FinOp pricing ($1,500–$7,500/month) — InnReg’s outsourced FINOP guide and Quadrant Regulatory’s FinOp accounting pages, cross-checked 2026-10-23; treat as indicative, not a quote (provider marketing pages, cost varies by firm size, transaction volume and business lines).
- Enterprise RegTech vendors (Softek, DASH RegTech, Regnology, AxiomSL/Adenza) — each vendor’s own product pages, read 2026-10-23. No vendor publishes pricing; none specifically targets small introducing broker-dealers.
- Rule 17a-11 early-warning triggers (net capital shortfall; 1,200% aggregate indebtedness) — FINRA’s own guidance on SEA Rule 17a-11, read 2026-10-23.
- FOCUS filing cadence and intraday net capital requirement — Oyster Consulting’s net capital and FinOp reporting FAQ, read 2026-10-23.