Commcise Sell is a cloud-based Commission Management solution built to meet the needs of Sell-Side firms.
It allows all buy-side customers to be managed in a single platform.
Commcise Sell automates the reconciliation of trades with your buy-side Customers. Commcise Sell can be configured to consume data in any format supplied by your client.
Commcise has been developed as an entirely new application and all modules are designed to work together; as an example, the rule engine module and the trade reconciliation module combine to allow incoming trades to have commission split automatically.
The entire Commcise suite is cloud-based which allows very rapid implementation. The principal tasks are definition of customer file formats and some basic static data configuration e.g. entering customers and users.
Commcise Sell incorporates a state-of-the-art Rules Engine that can allow brokers to rapidly unbundle trades as requested by your buy-side Customers. The Rules Engine additionally manages the Eligibility and discrete Research Pool rules relating to each client.
MIFID II is bringing greater scrutiny to how asset managers manage their client commission spend. Commcise Sell allows brokers to make this transparent for their buy-side Customers by allowing research commissions to be tracked by Dynamic Research Pools.
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
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 transactions are stored in an accounting system using double-entry bookkeeping