Electronic trading has no doubt simplified trade execution, but has brought in its wake an increasing number of execution venues, regulatory mandates, a growing number of partners and soaring trade execution expenses.
In fact, trade execution costs are regarded as one of the largest expense items for capital markets firms.
Bonaire Software Solutions LLC, however, has brought a whiff of automated air into the business environment with its Revenue and Expense Management platform, REVPORT, to mitigate cost and accuracy issues typically associated with trade execution expenses and vendor invoice reconciliation.
A provider of revenue management and business intelligence, Bonaire claims that its REVPORT platform automates the trade execution expense calculation and vendor payment reconciliation process, delivering a number of key benefits for business intelligence.
REVPORT's fee calculation engine enables firms to independently calculate fees and reconcile invoices accurately, minimize fee leakage, optimize pricing agreements, improve cash flow and management visibility and accurately allocate expenses, said company officials.
“We believe that this solution will transform the trading desk as firms will now have highly valuable intelligence on what they are paying and to whom - a discovery that may save these firms thousands if not millions of dollars a year,” said John Bosley, chief operating officer at Bonaire.
Today, in spite of advancing technology, many capital markets firms are still managing their trade execution expenses on Excel spreadsheets, often incurring higher trading costs because of insufficient operational control and visibility.
“With global regulators and legislators demanding greater transparency and reporting, financial institutions today cannot afford to risk mismanaging their trade execution costs. Not reacting to the regulatory landscape will have a negative downstream impact on clients and shareholders," commented Chris John, CEO at Bonaire.
According to Bosley, REVPORT is a reflection of Bonaire's ongoing commitment to innovation and automation as it could tap into the power of the existing fee calculation engine and adapt it for trading firms' unique needs.
Bonaire Software Solutions, LLC has released its reporting and functionality features as well, to handle the SEC's (News - Alert) proposed revisions to 12b-1fees in the U.S. and Retail Distribution Review in the U.K. The new functionality is available solely to Bonaire's globally based clients using the REVPORT 8.5 financial management suite.
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Edited by Braden Becker