Agency broker Instinet’s Plazma, the firm’s global, broker-neutral, multi-asset commission management suite, now lets you review brokers and vote for research and broker preferences.
The new, customisable broker vote module, allows buy-side traders to easily manage their broker voting process to determine exactly how much of their commission pot providers should be paid for research and management access.
Users can input relevant information about each broker throughout their review period to assist in the voting process, qualitatively rating a provider’s service level to generate a customisable report card that compares the provider to its peers.
At any time, buy-siders can view their historical allocations – both by number of votes and total commission.
“We view this added functionality as a natural extension of Plazma’s capabilities, and believe that clients will find real value in the integration of a broker voting mechanism within the system they use to manage their commission spend,” said Jonathan Kellner, president of the Americas at Instinet. “At its core, Plazma is a broker-neutral workflow solution for the buy side.”
The new functionality follows Instinet’s introduction of multi-asset support earlier this year, letting users generate soft dollar and commission sharing arrangement/client commission arrangement credit through US-listed options trades.
The Plazma platform underpins Instinet’s entire commission management offering, which in 2010 processed over 30,000 invoices globally, worth more than US$275 million. As of 1 November, the company said it was on pace to do the same in 2011.
The Plazma commission management suite also offers more than 2,000 brokers and vendors in the agency broker’s global roster, an integrated budgeting tool, and the T*Share commission aggregation offering.