Commcise launches buy-side commission management-as-a-service platform

COMMICSECM platform to automatically unbundle trades for US asset managers for increased spending transparency.

Commission management systems specialist Commcise has announced the launch of its as-a-service offering for US asset managers.

COMMCISECM, a stand-alone commissions management platform based in the cloud, will offer asset managers a full view of unbundled trading activity, alongside a technology-based trade reconciliation engine.

The system is designed to provide asset managers with a complete and transparent view of research and commission spending, automatically unbundling all trades (both full-service and soft dollar) to manage credits held with their CSA/soft dollar brokers. CommciseCM also automates the reconciliation process with broker trades automatically assigned for further review by the system in the event of a break. 

“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 service,” said Kyle Rosse, head of sales, North America, at Commcise. “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.”  

In December 2018, pan-European exchange group Euronext acquired a 78% majority stake in Commcise. The two entities offer the US asset management community an ‘Aggregation 2.0’ service that combines technology and services to create a commission management-as-a-service platform.

“Together, Commcise and Euronext are redefining what Commission Management means with our Aggregation 2.0 offering,” commented Amrish Ganatra, CEO of Commcise. “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.”