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February 26, 2009

BNY ConvergEx Group releases upgraded commission management platform

CSA/CCA payments with a click-to-pay feature

By CBR Staff Writer

BNY ConvergEx Group, a provider of agency brokerage and investment technology services, has released an upgraded commission management platform that includes a newly designed version of its InterComm client portal and a processing utility for managing trades, commissions and payments.

The company said that 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.

The company also said that the newly upgraded InterComm portal gives clients the ability to direct CSA/CCA payments with a 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.

John Meserve, executive managing director and head of commission management business at BNY ConvergEx Group, said: As a premier provider of third-party research services, ConvergEx has been a leader in the development of tools to support all aspects of commission management. With our new InterComm portal, we offer more options to support our clients’ internal workflows, while simultaneously integrating them with our own to further improve speed, accuracy, control and payment cycle times.

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