Broadridge Financial Solutions, a provider of capital markets technology, has launched its PROactive fee and commission manager tool in Asia-Pacific, which it claims will help market participants reduce their trading costs.
The tool lets banks, brokers and investment managers better manage their brokerage fees and commission payments, while also improving operational efficiency and management control.
By giving firms full control of their commissions and fees across all financial instruments, entities and trading partners, Broadridge claims that using PROactive can help to avoid overcharging, by basing commission and fee calculations on internal records.
The solution also lets firms take a business-wide view of payments and receipts across all financial instruments, entities and trading partners, which Broadridge says will lead to increased buying power, cost savings and the ability to negotiate improved brokerage terms.
To accompany the launch of PRO active, Broadridge has also sponsored a whitepaper entitled “Insights into fee and commission management in Asia”, which takes a detailed look at the challenges for Asia-based financial companies and identifies areas where technology can help.
“The challenges for firms operating in Asia are the complexity and number of relationships and fees that they have to deal with on a regular basis,” said Akhter Khan, head of Asia Pacific, securities processing solutions, international at Broadridge. “We regard this solution as an important innovation and a timely response to market demand for greater oversight and control of fees and commissions.”