Buy-Side Technology Awards 2016: Best Buy-Side Product for 2016—Commcise
This is the second straight year that a new product has won the product of the year category in the BST Awards, after Algomi’s Honeycomb platform, a corporate bond information network designed to provide buy-side firms with transparency around the execution of illiquid bond trades, scooped the award in 2015.
To fully appreciate Commcise Buy’s applicability to the challenges facing the global asset management industry, it’s important to take a step back and consider the current regulatory landscape. Regulation, specifically relating to soft-dollar arrangements, whereby asset managers use CSAs that allow them to trade with any broker that provides best execution without having to pay that broker a bundled commission rate, is receiving a lot of interest right now, especially, although not exclusively, in Europe. The Financial Conduct Authority (FCA) and the European Securities and Markets Authority (ESMA) have sought to introduce greater transparency around the practice to ensure that asset managers do not pass on unnecessary costs to their investors. According to Commcise, asset managers spend more than $12 billion of their clients’ money globally each year through dealing commissions to pay for research via a bundled commission rate, and typically do not have adequate tools to manage this spend.
By winning this category, Commicise joins an elite group of recipients in the winners’ circle: Markit (2008); Eagle Investment Systems (2009); Cadis, now part of IHS Markit (2010), SmartStream Technologies (2011); Advise Technologies (2012); LCH.Clearnet (2013); Vermilion Software (2014); and Algomi (2015). Commcise claims to be the only platform currently on the market that allows buy-side firms to manage their research payment accounts (RPAs) in an auditable, transparent and regulatory compliant manner. Other providers in this space, of which there are a handful, would no doubt contest that assertion, but what cannot be argued is Commcise’s appeal to asset managers around the globe: It has agreements in place with over 200 firms worldwide, which, considering it only opened its doors for business just over a year ago, is no mean feat.
To fully appreciate Commcise Buy’s applicability to the challenges facing the global asset management industry, it’s important to take a step back and consider the current regulatory landscape.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: http://subscriptions.waterstechnology.com/subscribe
You are currently unable to print this content. Please contact info@waterstechnology.com to find out more.
You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@waterstechnology.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@waterstechnology.com
More on Awards & Rankings
BST Awards 2024: Best buy-side execution venue—360T
Product: 360T
Buy-Side Technology Awards 2024: All the winners and why they won
The 39 category winners of the 2024 Buy-Side Technology Awards.
BST Awards 2024: Best buy-side performance measurement and attribution product—FactSet
Product: FactSet Performance Solutions
BST Awards 2024: Best buy-side newcomer (vendor or product)—Exegy
Product: nxFramework
BST Awards 2024: Best buy-side managed data service—S&P Global Market Intelligence
Product: iLEVEL Managed Data Services
BST Awards 2024: Best portfolio accounting platform—SS&C Advent
Product: Geneva and APX