Strengthening product strategy and business development and driving forward the US soft dollar transaction reconciliation services
Commcise, a Euronext company and award-winning provider of commission management and research valuation solutions to the buy-side and sell-side, today announces that Richard Hooke and Scott Douglass have joined the company to strengthen the global business development and product strategy teams.
Richard Hooke is based in London as Director of Product Strategy. He brings a wealth of experience in the FinTech area having focused on providing leading-edge front office systems for the asset management community in his previous roles as Head of Products at LatentZero and latterly as the Buy-side Product Director at Fidessa.
Amrish Ganatra, Managing Director at Commcise, commented:
I am excited about the launch of our ‘Commission-Management-as-a-Service’ solution, which is available to US asset managers for free. This new service complements our existing product suite by providing additional capabilities to clients who have previously relied on outsourcing to custodial aggregators. Such providers typically use people rather than technology to deliver their services.” He added, “Commcise’s innovative approach to aggregation, coupled with a proven onboarding procedure, offers buy-sides increased efficiency and transparency over their current processes, without requiring any significant efforts from their internal resources.
As a result of Euronext’s majority acquisition of Commcise in December 2018, Commcise and Euronext together offer US asset managers with an Aggregation 2.0 service. Aggregation 2.0 brings together a proven technology layer and dedicated client services to provide a full Commission-Management-as-a-Service solution. COMMCISECM provides the technology engine that underpins the service layer provided by Euronext. Asset managers are assigned a single point of contact and can determine their level of engagement with the platform, ranging from “fire-and-forget” (much like the workflow they may be accustomed to with a custodial aggregator) to actively using the technology to improve their trading relationship with all their sell-side counterparts.
Amrish Ganatra, CEO at Commcise, commented:
We are very pleased to be extending our software solutions to include managed services. Together, Commcise and Euronext are redefining what Commission Management means with our Aggregation 2.0 offering. This new solution is part of the planned strategic growth of the company following our acquisition by Euronext last year and further underlines our commitment to supporting both buy and sell sides with their transparency objectives.