Groupama Asset Management implements CommciseBUY for Commission Sharing and Research Payment life-cycle
Expanding Paris based buy-side client base
Paris, London, 5 June 2018. Commcise, the provider of award-winning integrated commission management solutions for financial services firms, today announced that Groupama Asset Management (Groupama AM), the Paris based subsidiary of the insurance company Groupama, has successfully completed the implementation of CommciseBUY. The hosted solution provides multi-asset integrated commission management and research valuation.
Groupama Asset Management have deployed CommciseBUY to support the full process life-cycle. This includes: commission reconciliation with Commission Sharing Agreement (CSA) brokers; sweeping of accrued CSA balances to the Research Payment Account (RPA); management of RPA; research budgeting and valuation; broker voting and payments; and MiFID II reporting, including fund-level research cost allocation.
Eric Heleine, Deputy Head of Trading at Groupama AM commented, “CommciseBUY was selected after a detailed selection process, focused on ensuring we would meet the new AMF research regulations driven by MiFID II.” He added, “Commcise is the best match to our requirements and we received positive references from other Commcise Paris-based clients, who have used Commcise for several years.”
The implementation was undertaken by a joint Commcise and Groupama AM project team, including integration with Groupama AM upstream and downstream systems.
Paul Charie, Commcise Global Head of Sales commented, “We are delighted to add Groupama AM to our impressive list of French clients. Groupama AM’s deep understanding of the changes in the research management business process that are required by MiFID II has ensured that our joint implementation team has achieved the system go-live in line with the timetable. We look forward to continuing to build a long-term business relationship with Groupama AM as our industry evolves in the coming years.”
Commcise provides an innovative, fully-integrated, cloud-based platform for tracking commissions used for funding research, recording research consumption and evaluating research services from providers. Commcise supports buy-sides, sell-sides and independent research providers in managing their business both locally and globally.
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Commcise offers independent, fully-integrated commission management solutions to the buy-side, sell-side and research providers. Commcise Buy, our award-winning cloud-based commission management platform is designed from the ground up to meet the specific needs of investment managers. Commcise Buy is the market-leading software solution helping asset managers to evidence end-to-end compliance with the latest MiFID II regulatory requirements. Commcise Buy provides automated trade reconciliation, algorithmic rules engine, invoice management, research evaluation / broker vote, consumption tracking (including an automated research valuation engine), commission budgeting, research accounting and reporting in a single fully-audited solution.
Built on the same technology stack as our award-winning buy-side platform, Commcise Sell is a cloud-based commission management platform for the sell-side. Commcise Sell allows executing brokers to transparently manage research commissions on behalf of their buy-side customers in a regulatory compliant manner. Whilst fully supporting the management of CSAs, Commcise additionally supports management of research payment accounts (RPAs) funded by transactions or by the accounting model. By providing a fully-audited and controlled platform that includes our industry-leading algorithmic rules engine, invoice management, research accounting and reporting in addition to white-labelled portal, Commcise Sell can allow brokers, research providers, custodians, fund accountants or any RPA administrator to manage commissions in any level of granularity and as demanded by their customers.
Commcise was founded by buy side industry professionals, with founding members including the partners of a leading Investment Technology consulting firm who have in-depth experience of implementing complex global technology solutions for asset management firms. With over 200 buy-side and sell-side clients globally, Commcise’s clients include some of the largest institutional asset managers, hedge funds and brokers in the world.
About Groupama Asset Management
Recognized by institutional investors as a key player in France, with total assets under management of €99.2 billion (on 30/06/2017), Groupama Asset Management is now ranked 9th in the list of top French asset management companies. A subsidiary of Groupama and number 1 mutual insurance company in France, Groupama Asset Management provides its clients with the benefits of its actively responsible management in multiple domains of expertise and its resolutely active long-term management approach based on the firm foundation of its extensive research capacity.