âWe currently use Firm58 to manage our end-to-end billing process which slashes several hours off our daily back office procedures; additionally with Firm58âs dynamic reporting capabilities, I now have daily visibility to the overall performance of the firm. Firm58 enables us to understand our revenues by customer, trader, venue and product on a daily basis,â stated Robert Pellicone, Managing Member at Hamilton Executions. âI am very excited about our results with Firm58 and I look forward to expanding our relationship to include compliance and expense management reporting.â
âPrior to utilizing Firm58, we spent over twenty hours a month to generate our bills,â noted Lori Davidson, Chief Technology Officer at Hamilton Executions. âWith Firm58 we spend 30 minutes. As part of their service, Firm58 automatically pulls data from our trading venues such as the American Stock Exchange and our clearing firm and automatically calculates our client fees.
âNow month end billing is a non-event; Firm58 generates customer-specific bill formats by asset class and location, and then publishes them via email in PDF format. In addition, todayâs customers are increasingly demanding more complex commission arrangements and Firm58âs sophisticated billing engine supports them all, ensuring our bills are accurate and issued on time.â
Curt Witte, CEO and President of Firm58, added âFirm58 is focused on providing solutions that not only drive cost savings but also increase revenues and customer loyalty. Our success with Hamilton Executions validates the power of our solutions. With transaction volumes continuing to increase and profit margins continuing to decline, firms spanning all capital market segments, must focus on post-trade management efficiency and increase efforts to improve bottom-line results. For Firm58 the timing could not be better for the solutions we are offering.â