Industry Leading Brokerage, Clearing and Exchange (BCE) Expense Management

Use our FINBOS and Analytics platforms to capture, manage and reduce your Brokerage, Clearing and Exchange (BCE) fees:

  • Broker Fees
  • Agent / Clearing Bank Fees
  • Exchange Fees

 The problem

Capital markets participants of all sizes are spending significant amounts of money in Brokerage, Clearing and Exchange costs, in some cases over USD 1 billion + per annum. However, it is very difficult to manage and standardise for the following reasons:

  • Opaque and complex rate cards
  • Unstructured data
  • Unauthorised brokers
  • Monthly processes
  • Poor booking practices
  • Multiple systems requiring the same core functionality
  • multiple incoming invoices
  • multiple products to service
  • Multiple Formats of Rate card by broker and product
  • month end processing rather than real-time / near real-time processing

Every day capital markets participants transact millions of transactions that attract Brokerage, Clearing and Expense charges

Meritsoft – the BCE solution – Customers

The underlying technology platform, FINBOS, has been deployed in 7 of the top 10 investment Banks.

Our BCE Managed Service solution, launched only 8 months ago, has already been selected by two Tier 1 banks at the end of a competitive process making us the current industry leader.

Meritsoft – the BCE solution – Benefits

From a software and infrastructure perspective solution easy to deploy or can be adopted under a Managed Service / utility construct

The benefits of the solution and infrastructure approach are huge in relation to:

  1. Operational efficiency
  2. Regulatory / Control
  3. Expense management

Meritsoft – the BCE solution – Components

From a software and infrastructure perspective, the time and effort to try to normalise (incoming invoice normalisation), structure this unstructured data (transaction flows), static required (rates, Brokers) etc is significant

Meritsoft has responded to this challenge by building a number of Software components that will allow clients to structure their data and the analytics component that will allow value to be derived. These include

  • data normalisation layer
  • Analytics – Multi-Asset Class
  • Rate repository to hold and normalise Broker rates
  • Scheduling and auto load capabilities
  • Invoice Template Library (converting and normalising Broker invoices)
  • Exception identification and processing
  • Reporting
  • Billing
  • Brokerage reconciliation
  • And all the other core FINBOS components

in addition to supporting BCE processes such as reconciliation, Meritsoft approach takes a post month end “transaction” process (where data can be 6+ weeks old) into a near real-time “exceptions” process.

Other solutions in this area

In addition to BCE category management, we provide solutions in the following areas:

  • Commissions
  • Connectivity Fees
  • Confirmation/Affirmation Fees
  • Regulatory Reporting Fees

Have Questions?

To learn more about our Brokerage & Billings Manager please Contact Us now.