Commcise, the integrated commission management solutions provider, and ITG, a leading independent broker, have announced the integration of their research payment and management technology solutions to create a seamless end-to-end MiFiD II research solution that allows asset managers to oversee the entire research management process with a single front-to-back audit trail and integrated workflow.
Amrish Ganatra, Managing Director at Commcise, said: “We are very pleased to announce our latest integration with ITG, a market leader in the provision of investment solutions and RPA custodial aggregation services. This is further evidence of the open nature of our platform. Commcise are focused on delivering world-class solutions to our clients and this integration with ITG allows firms to manage the end-to-end process in a simple way. Through our combined technology offering, industry expertise and global network, we help asset managers evidence compliance with the MIFID II regulations today.”
The new regulations, set to come into effect in January 2018, require asset managers not only to implement stricter control over research spend, but also to demonstrate that this is the case. Commcise and ITG claim their solution will aid managers in every area of MiFID II, including (in the words of their press release) “ensuring all trading activity is unbundled from research fees and evidencing a fair-allocation of research charges to fund level.”
“This integration with Commcise enhances the value of our comprehensive research payment account solution. With MiFID II fast approaching, investment firms need to rethink their research spend processes and ensure what they have in place is compliant with the new regulations. By collaborating with key partners like Commcise, we can help clients have the best end-to-end solution, meeting their investment research needs as well as their regulatory obligations,” said Jack Pollina, Managing Director at ITG.
Asset management companies have just nine months to prepare for the upcoming regulatory changes. Because of this, most firms are looking for a process that will address the added complexities of having to use transactions to pay for research and, simultaneously, having to manage budgets at a desk/strategy/fund level. The Commcise/ITG solution is designed to do exactly that, making research managed at a desk level, automatically pro-rating all research funding and research consumption down to fund-level. Moreover, the solution uses daily accounting data to manage granular fund-level research charges communicated to clients.