Bernstein utilises Commcise commission management platform
22 May 2018 London
Image: Shutterstock
Sanford C. Bernstein (Bernstein) has completed 2 years’ production use of Commcise’s CommciseSELL platform.
In delivering the project, the combined team implemented commission management rules for Bernstein’s individual asset management clients.
Commcise provided consultancy to ensure a smooth transition from Bernstein’s legacy solution, working with its team to ensure rapid configuration of the CommciseSELL unbundling and eligibility rules—enabling downstream integration to internal payment systems.
According to Commcise, the Bernstein client team has continued to use the toolset as asset managers increasingly require full transparency of their execution and research commissions through unbundling.
A fully-integrated payments module ensures client payments instructions are recorded in CommciseSELL, which provides Bernstein, their asset manager clients, and the research providers, a real-time audit via the client portal.
Aggregator fees are calculated, where applicable, to provide Bernstein with full cost transparency.
In addition, Bernstein can pool its client cash (by buy-side legal entity, strategy or team), whilst managing balances and payments, as instructed by its clients.
Fredric Gilde, global head of client strategy at Bernstein, said: “Commcise has given us the ability to handle a range of client needs efficiently and effectively. Features like automated delivery of statements and trade files have enabled us to double our capacity, scaling to hundreds of clients globally with minimal staff increase.”
He added: “The enhanced client portal gives our clients full visibility into their account balances and trades. Clients are also able to raise payments to research providers and see a detailed audit of the invoice payment process.”
Amrish Ganatra, managing director of Commcise, said: “We have been delighted to work with Bernstein to ensure CommciseSELL continues to meet broker and research provider needs in today’s world.”
In delivering the project, the combined team implemented commission management rules for Bernstein’s individual asset management clients.
Commcise provided consultancy to ensure a smooth transition from Bernstein’s legacy solution, working with its team to ensure rapid configuration of the CommciseSELL unbundling and eligibility rules—enabling downstream integration to internal payment systems.
According to Commcise, the Bernstein client team has continued to use the toolset as asset managers increasingly require full transparency of their execution and research commissions through unbundling.
A fully-integrated payments module ensures client payments instructions are recorded in CommciseSELL, which provides Bernstein, their asset manager clients, and the research providers, a real-time audit via the client portal.
Aggregator fees are calculated, where applicable, to provide Bernstein with full cost transparency.
In addition, Bernstein can pool its client cash (by buy-side legal entity, strategy or team), whilst managing balances and payments, as instructed by its clients.
Fredric Gilde, global head of client strategy at Bernstein, said: “Commcise has given us the ability to handle a range of client needs efficiently and effectively. Features like automated delivery of statements and trade files have enabled us to double our capacity, scaling to hundreds of clients globally with minimal staff increase.”
He added: “The enhanced client portal gives our clients full visibility into their account balances and trades. Clients are also able to raise payments to research providers and see a detailed audit of the invoice payment process.”
Amrish Ganatra, managing director of Commcise, said: “We have been delighted to work with Bernstein to ensure CommciseSELL continues to meet broker and research provider needs in today’s world.”
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