This new product offers a stand-alone Commission Management platform designed specifically to help US asset managers and hedge funds obtain a full commission wallet view of their entire trading activity.

COMMCISECM provides asset managers with 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.

As a cloud-based solution, COMMCISECM provides an automated, transparent, virtual aggregation platform that allows US asset managers to manage research credits held with their CSA / soft dollar brokers. The reconciliation engine delivers full transparency of account trading activity including identifying and flagging any breaks that fall outside agreed parameters. Furthermore, the platform features an in-depth, strategy-specific accrual budgeting capability with real time alerting, a Research Accounting engine with support for transactional or P&L funding of research, detailed reporting capabilities and integration with all major OMS platforms.

COMMCISECM automates the reconciliation process with broker trades automatically assigned for further review by the system in the event of a break. With over 110+ trading counterparts already certified and contracted on the platform, COMMCISECM streamlines the complete process with oversight from internal or outsourced client service teams, supported by a comprehensive audit history.

Kyle Rogge, Head of Sales – North America at Commcise, said “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.” He added, “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.”