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For the Professional Management of Execution Only Business
The Brokerage Module provides a secure browser-based system to allow FCMs and other users to manage executing broker fees, invoice production and payment tracking resulting from execution only (or ‘give-up’) business. The solution addresses the triparty agreements that govern ‘give-up’ business. It allows firms performing the execution to produce invoices for their business, and firms performing the clearing to report on the ‘take-in’ trades. The Brokerage Module is integrated into the EGUS industry initiative and is part of Rolfe & Nolan’s powerful Middle Office product suite.
Addresses key brokerage management issues
• Resource – calculating brokerage is a resource intensive, often manual, process
• Accuracy – due to the manual nature of the process, human error can creep into calculations and reconciliations
• Timeliness – creating the invoice manually is time consuming, causing a delay between the end-of-period and the invoice being sent out to the client
• Payment Cycle– delay in invoicing has a knock-on effect on payments,which effects cash flow
• Compliance – trading should not occur without a triparty agreement
• Accounting – payments cannot easily be tracked back to individual trades
• Broker Management – lack of monitoring of outstanding payments and reporting of historical payment information
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