Press Release Summary:
InterComm(SM) client portal and integrated processing utility help manage trades, commissions, and payments. In addition to features for online trade detail inquiry and export, functionality lets clients direct CSA/CCA payments with click-to-pay feature and provides access to real-time commission and payment balances as well as account statements and other documentation. Complete suite of workflow integration and processing tools covers CSAs, CCAs, and third-party research payments.
Original Press Release:
BNY ConvergEx Group Launches Industry-Leading Commission Management Platform
NEW YORK, Feb. 23 -- BNY ConvergEx Group, LLC, a leading provider of global agency brokerage and investment technology solutions, today announced that it has released a fully upgraded commission management platform, that includes a newly designed version of its InterComm(SM) client portal and a state-of-the art processing utility for managing trades, commissions and payments. The enhanced platform offers a complete suite of new workflow integration and processing tools for Commission Sharing Arrangements (CSAs), Client Commission Arrangements (CCAs) and third-party research payments.
"As a premier provider of third-party research services, ConvergEx has been a leader in the development of innovative tools to support all aspects of commission management," said John D. Meserve, executive managing director and head of BNY ConvergEx Group's commission management business. "With our new InterComm portal, we offer more effective options to support our clients' internal workflows, while simultaneously integrating them with our own to further improve speed, accuracy, control and payment cycle times."
Originally introduced in 2003, the patent-pending InterComm portal was the industry's first interactive platform designed to fully automate the workflow surrounding third-party research services. Key to its success were the significant efficiencies created by eliminating the paper flow and attendant processing delays typically associated with the administration of third party commissions, invoices and payments.
The newly upgraded InterComm portal gives clients the ability to direct CSA/CCA payments with an easy-to-use 'click-to-pay' feature. It also provides clients access to real-time commission and payment balances, access to account statements and other documentation, and offers online trade detail inquiry and export features. Capacity and screen response speeds have also increased dramatically.
"By listening closely to our clients' needs, we will continue to deliver the best solutions in the industry," said Meserve.
About BNY ConvergEx Group
BNY ConvergEx Group, LLC provides global agency brokerage and investment technology solutions to institutional clients worldwide. The Company's key business lines - Liquidity and Execution Management, Investment Technologies and Intermediary and Clearing Services - focus on a broad array of services designed to deliver a comprehensive, integrated platform of performance-driven, global multi-asset class trading capabilities. BNY ConvergEx Group is comprised of the following businesses: BNY ConvergEx Execution Solutions LLC (member NYSE/FINRA/SIPC), LiquidPoint, LLC (member CBOE/SIPC); Eze Castle Transaction Services LLC (member FINRA/SIPC); Westminster Research Associates LLC (member FINRA/SIPC); G-Trade Services LLC (member FINRA/SIPC); BNY Jaywalk LLC; ConvergEx Global Markets Ltd. and Eze Castle Software LLC. BNY ConvergEx Group is an affiliate of The Bank of New York Mellon Corporation. Additional information is available at www.bnyconvergex.com.