An integrated, cloud-based platform to help Investment Managers track the funding, consumption and payment of research services.
Enables Investment Managers to transform their processing of funding and valuing research services by providing a single integrated platform
Supports Budgeting, Funding, Commission Management, Invoice and Contract Management, Consumption Tracking, Research Evaluation, Payments, Reporting and Accounting.
Commission Management
Soft Dollar Aggregation Services
If you have been working with a custodial aggregator or are thinking about it, there has not been an alternative until now for a full service platform offering the technology and the service layer to manage your entire program from reconciliation to payments.
Product Benefits
Enables asset managers to demonstrate greater compliance with MiFID II and other regulations.
Supports the end-to-end process with any number of CSA broker and RPA administrator relationships.
Addresses the complete research lifecycle and eliminates manual processes.
Fast, secure development, delivered through high-quality user interface, e.g. mobile app.
Delivers a complete view of investor- or AM-funded research budgeting and consumption.
Designed specifically to meet the needs of all types of asset management organisations.
Provides a single end-to-end audit trail, including output for all key business stakeholders.
Product Features
Sets budgets for research providers at any level (e.g. team/strategy). Tracks allocation of budgets to portfolios using real-time trading, funding and consumption data. Automatic alerting when approaching a set funding or consumption target.
Sophisticated trade matching engine allows clients to reconcile CSA and RCCA trades automatically. Fully-audited, allocation-level reconciliation. Bespoke broker file formats supported. Comprehensive exception management workflow.
Direct feeds of consumption data from hundreds of research providers. Robust data cleansing and normalisation process. Flexible, rules-based valuation engine supports any buy-side valuation model. Comprehensive consumption reporting against budgets. Robust cost allocation model to ensure interactions are fairly charged to portfolios that have benefited from research. Secure web and mobile-based evaluation including accepting/rejecting, rating and commenting of interactions.
Shows CCA, CSA, RPA and P&L payments within a single view. Partnerships with many CSA providers and RPA administrators to facilitate payments and physical aggregation of balances. Automatically generates and tracks payment instructions. Support for priced services (e.g. market data fees, IRP invoices). Intelligent rules-based targeting of funding pools where firms are supporting P&L and client-funded research.
Complete double-entry accounting engine with full support for dynamic CSA/RPA virtual pool accounting. Demonstrates how clients have benefited from research. Shows control over cross-subsidisation. Automated reconciliation of funding balances.
Supports any combination of global funding methods: CCA, CSA, RCCA, RPA (transactional, accounting) and P&L methods. Flexible rules engine determines commission pools, splits and trade eligibility of CSA and full-service rate trades. Accurate unbundling of principal trades.
Centralised management of fixed-price agreements with research providers (e.g. portal access, pay-per-user subscriptions). Automatic generation of invoices. Integration with user consumption budgets.
Research evaluation is the new name for Broker Vote. Commcise allows top-down, bottom-up and consumption-based evaluation. Flexible levels for evaluating research providers, including by service type, individual contacts or the provider overall. Integration of consumption data and commission balances allows fund managers to see real time ‘value of a vote’.
Comprehensive set of MiFID II reports, including fair allocation fund-level funding and consumption. Complete ‘full commission wallet’ reporting. Broker scorecards derived from provider evaluations.
