Since the advent and widespread proliferation of electronic trading, many Broker Dealers have invested in solutions to automate and streamline their front office trade processes in order to increase efficiency and reduce risk. However, most of these companies are still managing their post-trade processing with the use of Excel spreadsheets or disparate in-house applications.
Managing post-trade processes with spreadsheets leads to time consuming manual data manipulation , which is not only labor incentive but also susceptible to human error. With a post-trade processing software in place, a company is able to reduce costs, increase operational efficiencies and focus energy on profit-generating activities.
Our Back Office Support System (BOSS) streamlines your post-trade processes in four easy steps. These four steps allow you to easily analyze where all money is coming from and where it is going to (including to whom), enabling you to quickly make the right decision about where to focus your efforts in optimizing your trading effectiveness and/or reallocate capital as needed.
1. Aggregate transactions data
The first step is to aggregate all transactions executing through different custodians. Our specialized trade data loader services reads through different custodian files and normalizes all trade data into a consistent format, which allows us to manage and report on post-trade activities in a consistent manner across custodians.
2. Manage post-trade processes
Once all of the data is aggregated, it is then presented and managed from an easy to use web based console, which makes reporting, manipulation and management of the data a breeze. The data can be hosted on your servers or you can leverage our SaaS based offering. In either case, the information can be accessed from any workstation via web browser securely.
3. Calculate fee & commissions
The specialized design of the BOSS platform makes managing commissions in Broker Dealers easier than ever. All charges, fees and commissions earned, paid and sent through your company are automatically tracked and calculated according to the set specifications and payout structure – you can even integrate tiered payout structures based on different trade agreements. Commissions through CSA/Soft$ and CMTA agreements can also be easily integrated into your account statements and payout structure.
4. Report & generate payout statements
Through the use of Commission Payout reports and account statements, the BOSS system allows you to view and easily keep track of who is earning what, while making sure the proper payout structure is followed. Brokers as well as broker managers can easily keep track of their earnings progress throughout the month. Detailed statements can also be provided to show exactly how the broker is compensated for each trade.