Delivering a fully integrated cloud based solution for the investment management division in response to the latest regulatory and commercial requirements
Commcise, the provider of award-winning Integrated Commission Management Solutions for investment management firms, is pleased to announce that BNP Paribas Investment Partners has implemented CommciseBuy globally. Commcise provided a complete multi-broker, multi-asset, integrated Commission Sharing Agreement (CSA) and Share-of-Wallet hosted service, as well as consultancy to ensure a smooth transition to the new solution that runs across BNPP IP’s offices in Europe, North America and Asia Pacific.
Managing commissions has historically involved juggling spreadsheets, manual trade reconciliations and payment processes. Many firms continue to operate manually intensive processes but, with the increased regulation and transparency requirements, firms are now finding this process difficult to scale and monitor with any confidence. This need for automation and transparency, operating within an audited framework, was the principal driver for BNPP IP moving to the Commcise platform.
The project migrated historic voting data and established desk-level CSA balances allowing more granular management by the Fund Managers and the CSA team. BNPP IP also benefits from a single integrated process for consistent broker voting, research evaluation (with integrated service history / consumption data being made available to each voter) and research budgeting across all fund management and trading desks, on a global basis.
Delphine Padovani, Head of Financial Intermediaries Relationships at BNPP IP commented, “We chose Commcise to provide us with a robust, fully audited method of managing our commission spend with a number of CSA brokers.” Padovani added “The technical and business expertise Commcise possess allowed them to quickly understand, design and deliver the software features we required within a very aggressive timeline. The product was rapidly configured to fit the nuances of our processes and we are delighted with how the project has worked for us.”
"Implementing CommciseBuy has enabled BNPP IP to have holistic transparency over their global commission spend in a single fully integrated solution. Our two firms worked exceptionally well together and delivered the project, within months, against an aggressive schedule." says Amrish Ganatra of Commcise Software Limited. “We are very pleased that BNPP IP chose Commcise as a partner and look forward to working with them in the future as the regulation develops.”
Commcise assists investment managers, brokers and independent research providers to demonstrate improved compliance with the changing regulatory landscape and evolving market practices. Commcise covers all aspects of the CSA / RPA process including Funding, Research Evaluation and Reporting. The single, cloud based, system enables all users to log, store and manage data wherever they are across the globe. Commcise replaces a complex web of processes and spreadsheets providing instant clarity. It is increasingly important for asset and investment managers to have transparency and clarity of ownership with clients’ commission money, and to show accuracy regarding where and why commission is being spent.
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