BNY ConvergEx launches commission management platform

Source: BNY ConvergEx

BNY ConvergEx Group, LLC, a leading provider of global agency brokerage and investment technology solutions, today announced that it has released a fully upgraded commission management platform, that includes a newly designed version of its InterComm(SM) client portal and a state-of-the art processing utility for managing trades, commissions and payments. The enhanced platform offers a complete suite of new workflow integration and processing tools for Commission Sharing Arrangements (CSAs), Client Commission Arrangements (CCAs) and third-party research payments.

"As a premier provider of third-party research services, ConvergEx has been a leader in the development of innovative tools to support all aspects of commission management," said John D. Meserve, executive managing director and head of BNY ConvergEx Group's commission management business. "With our new InterComm portal, we offer more effective options to support our clients' internal workflows, while simultaneously integrating them with our own to further improve speed, accuracy, control and payment cycle times."

Originally introduced in 2003, the patent-pending InterComm portal was the industry's first interactive platform designed to fully automate the workflow surrounding third-party research services. Key to its success were the significant efficiencies created by eliminating the paper flow and attendant processing delays typically associated with the administration of third party commissions, invoices and payments.

The newly upgraded InterComm portal gives clients the ability to direct CSA/CCA payments with an easy-to-use 'click-to-pay' feature. It also provides clients access to real-time commission and payment balances, access to account statements and other documentation, and offers online trade detail inquiry and export features. Capacity and screen response speeds have also increased dramatically.

"By listening closely to our clients' needs, we will continue to deliver the best solutions in the industry," said Meserve.

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