Instinet Incorporated, an independent, global agency-only broker*, today announced the launch of an enhanced version of Plazma, its global, broker-neutral, multi-asset commission management platform.
Among several enhancements in the release, the most significant is the addition of multi-strategy functionality, which enables users to view budgets and balances on a sub-account level and is particularly useful for buy-side firms that allocate vendor charges across multiple funds or make CSA payments on a fund-level basis. Sub-account information can be accessed via a drop down menu on the welcome page, with designations that are fully customizable and may be set by fund name, portfolio manager, analyst, account, sector, etc.
Jonathan Kellner, Head of the Americas Region at Instinet, said: "The challenges associated with compressed commission pools continue to add pressure to the soft dollar budgeting and administration process. Since Plazma is at its core a broker-neutral workflow management solution, we worked with our clients to improve efficiency by adding the ability to track and manage payments on a sub-account level."
With an extensive (2,000+) global roster of participating brokers and vendors, an integrated budgeting tool, broker voting functionality and the T*Share commission aggregation service, Plazma is one of the market's most advanced commission management suites. The platform underpins Instinet's entire award-winning commission management offering, which in 2011 processed over 30,000 invoices globally worth nearly $300 million (USD).
* through regional brokerage subsidiaries