Liquidnet, the global institutional trading network, has expanded its commission management services (CMS) to members in Europe.
Since 2011, Liquidnet has offered a suite of commission management solutions designed to reduce the conflicts that stem from the simultaneous pursuit of best execution and the need to manage commission payments.
Liquidnet’s CMS services available to members across Europe will include:
• Liquidnet Commission Analyzer - Designed to help traders maximise every commission as they track against research targets. The Web-based interface provides buy-side institutions with the ability to gain immediate insight into their commission spend and balances on a T+1 basis for all brokers, currencies, and asset classes across the globe in a secure application with robust and flexible reporting.
• Liquidnet Commission Aggregator - Enables members to monitor and manage all Commission Sharing Agreements (CSA), Client Commission Agreements (CCA) and Soft Dollar Accounts through one easy-to-use web application. It saves administrative time by allowing them to pay bills, track commissions and payments, and reconcile trades all in one place. Liquidnet’s agency trading model and insurance wrapper offers traders another level of trust and security. Brokers whose clients use Liquidnet’s Commission Aggregator also benefit from the service with T+1 trade reconciliation and a dedicated Broker View that allows them to track data on a daily basis.
“Liquidnet’s commission management suite is specifically designed to maximise both best execution and every commission dollar spent. It reduces the amount of time traders and firms have to spend managing, paying and reconciling bills so they can spend more time trading,” says John Kelly (pictured), chief operating officer at Liquidnet. “That’s why we’re so pleased to be able to extend this offering to our European members.”
“One of the reasons our CMS offering has worked so well in the past is because we are focused on solving the problems of the buy-side. Our solutions target all of their pain points with the added benefits of T+1 trade reconciliation and insured balances,” says Sandra Delmore, director of commission management at Liquidnet. “Our decision to expand to Europe is particularly timely – our Europe based members have been telling us they are searching for a comprehensive solution they can utilise to provide their clients and regulators with greater transparency around commissions.”