Source: Rolfe & Nolan
Leading listed derivatives processing software provider Rolfe & Nolan today announced three signings for its recently released fee and commission schedule management tool, Fees Direct.
The sales are to a global investment bank and two large FCMs. Further deals with several FCMs and investment banks will be announced shortly.
Since its launch in the US, Singapore and London last November, Fees Direct has been the subject of intense interest by the F&O industry. Speaking at the Boca Raton Futures Industry Association conference, Paul Miller, global sales and marketing director at Rolfe & Nolan said: "The complexities of continually changing fee structures and incentive schemes are difficult and resource-hungry to manage. Market participants have repeatedly told us that a firm grip on fee and commission costs is a key requirement for the successful management of any F&O firm. Its importance is underlined by the fact that multiple leading firms in the business are signing up for Fees Direct. Rolfe & Nolan has worked in close partnership with the industry to develop Fees Direct - as is evident by its relevance to the problems faced by firms today."
Patrick Liardet, director of middle office technology at Rolfe & Nolan said: "Fees Direct is the only solution available today giving customers the ability to shape and manage commission charges around hard costs in the market and is a key component of our middle office product suite. As in other industries, F&O firms are demanding a more efficient transaction process, necessitating a shift of functions from the back office to the front and middle office."
Populated with over 330,000 exchange, clearing house and regulatory fees, Fees Direct delivers automated, accurate fee maintenance, improved customer service, reduced error rate, full management control, ease of audit and comprehensive management reporting.