Commcise Buy is a cloud-based Commission Management and Share-of-Wallet reporting solution built to meet the needs of Investment Managers.
Commcise Buy enables Investment Managers to transform their processing of Commission Sharing Agreements by providing a single integrated platform that supports Reconcilliation, Invoice Management, Broker Voting, Commission Management and Reporting.
Commcise has been developed as an entirely new application and all modules are designed to work together; as an example, the broker voting module and the accounting module combine to allow votes to be translated into a cash figure immediately on the screen, taking into account the desk’s aggregated research commission, invoices due, and the voter’s proportion of the desk budget.
Targets allow monitoring of the research commission collected versus the value of research to be paid for, allowing rates to be re-negotiated and avoiding overpayment
Commcise Buy allows all trading activity to be loaded, regardless of asset type and CSA eligibility. This pays off when reporting on commission spend as an overall view can be obtained.
The entire Commcise suite is cloud-based which allows very rapid implementation. The principal tasks are definition of broker file formats (brokers which already use Commcise will be pre-configured and will require no further work) and some basic static data configuration e.g. entering desks and users.
The system supports the latest regulatory requirements, for example allowing mixed-use invoices, financial voting, assignment of value to research and events, and thorough auditing of all system activity.
Production and distribution of broker packs after the voting process is automated, while allowing review and approval of reports prior to dispatch.
All critical data is encrypted and the latest security standards are implemented throughout the software.
The Rule Engine provides a means to split the commission on a trade into execution and research components
Trade reconciliation is carried out automatically by a matching and reconciliation engine; exceptions are reported and interaction between both parties within the system is possible to resolve any breaks
Invoices can be added, approved, assigned between desks, split by eligibility; the system will also determine the best party to pay based on an optimisation, with configurable exclusion constraints application
Targets for commission can be set by Investment Team. The system will warn when budget targets are approached with any specific CSA or non-CSA broker, allowing commission rates to be modified to reduce research accumulation
Votes can be collected from teams with and without research budgets to award; those with a budget are converted automatically to awards. Votes can be applied at broker or lower level e.g. to cover individuals or sectors. All votes and comments entered contribute towards broker feedback reporting.
Brokers can bulk upload events and research into the system; this will be displayed at voting time to provide voters with reminders of the background to the award
All commission is aggregated and stored in virtual pools, maintaining ownership by team
Many reports are provided by default e.g. broker packs for broker feedback, desk packs for internal reporting, and commission balance reports for financial forecasting. Further reports can be added to the system
All transactions are stored in an accounting system using double-entry bookkeeping