Commcise CM

The commission aggregation market is evolving. Competitive and regulatory pressures are driving change. Asset managers are demanding more from their aggregation providers because, in turn, regulators and asset owners are demanding greater transparency. Aggregation 2.0 has been a long time in the making, but it is now firmly here.

Commcise provides virtual aggregation as well as its Aggregation 2.0 offering in partnership with custodial aggregators and other banking partners. Aggregation 2.0 combines Commcise’s award winning technology platform with a dedicated client service team to offer the most comprehensive commission management platform in the industry.

CommciseCM provides a standalone cloud-based Commission Management platform designed to help asset managers meet new transparency demands.

CommciseCM is a turnkey solution that automatically unbundles every trade (full-service and soft dollar) and additionally provides a technology-based trade reconciliation engine. This means asset managers instantly get greater transparency on research spend and can materially increase their spending power with their research providers.

Overview of product benefits
Aggregation reinvented

Best-in-class SaaS technology and dedicated outsourced client service

Increased Transparency

Delivers full commission wallet view of all trade accruals and AM-funded research

Automation and Scalability

Supports the process with any number of CSA broker and research provider relationships

Broker neutral solution

Designed specifically to meet the needs of all asset management organisations

Integrated by design

Addresses the complete research lifecycle and eliminates manual processes

Fully automated solution

Provides a single audit trail including internal reporting for key business stakeholders

Secure technology base

Fast, secure development, delivered through high-quality user interface

Overview of product features
Budgeting
  • Sets accrual budgets for research providers at any level
  • Tracks allocation of budgets to portfolios
  • Automatic alerting when approaching a set funding target
Research Funding
  • Supports global funding methods: CCA, CSA, RPA and P&L
  • Flexible rules engine determines commission pools, splits and trade eligibility of CSA and full-service rate trades
  • Accurate unbundling of principal trades
Trade reconciliation
  • Sophisticated trade matching engine automatically pairs asset manager and broker CSA / Soft Dollar trades
  • Configurable CSA / Soft Dollar trade reconciliation engine
  • Fully-audited, allocation-level trade reconciliation
  • 100+ contracted brokers on network
  • Robust online exception management workflow between asset manager and brokers for any recon breaks
  • Supports multiple asset classes
  • Supports tri-party reconciliations including Prime Brokers
  • Automatic sweep notifications for custodial aggregation
Payments
  • Shows CSA, RPA and P&L payments within a single view
  • Payment workflow support with segregated roles
  • Automatic notification to all research providers of payment
  • Automatically generate and track payment instructions
  • View and analyse transactions in a balance
  • Intelligent rules-based targeting of funding pools where firms are supporting P&L and client-funded research
  • Single audit trail over all research provider expenses
Reporting
  • Complete ‘full commission wallet’ reporting
  • Flexible user-customizable interactive trade dashboard
  • Reports by broker, team, voting period, asset type, service type, etc
  • Exportable data formats for bespoke analysis and integration
  • Fair allocation reporting of research funding and consumption down to portfolio level*
  • Comprehensive set of MiFID II reports*
Research Accounting
  • Complete double-entry accounting engine with full support for dynamic CSA/P&L virtual pool accounting
  • Automatic trade tagging to desk / team / strategy / entity
  • Account / client level accrual accounting of bundled trades
  • Manage level of cross-subsidisation between strategies
  • Real time CSA balances and statements across all brokers
  • Demonstrates how clients have benefited from research*
Managed services
  • Technology operations and support provided by Commcise
  • Outsourced virtual aggregation services provided by Euronext broker-dealer
Integration
  • API support for integration with external systems
  • Automated integration to custodial aggregators and banks to hold ring-fenced, client-specific CSA / P&L balances
  • Integration with internal buy-side systems – OMS / Data warehouse / Account Payable
  • Support for third party broker vote integration

Press Releases

Aggregation 2.0 – Putting Clients First!

With little innovation having occurred in the Aggregation industry over the last 20 years, we believe it is in serious...read more

Commcise launches Commission-Management-as-a-Service platform for Asset Managers

London, New York, Bangalore 05 September 2019.  Commcise, the award-winning provider of integrated commission management, research evaluation, consumption tracking and...read more
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