BNP Paribas Investment Partners live with Commcise commission management solution
Commcise has implemented its flagship cloud-based commission management software, CommciseBuy, at BNP Paribas Investment Partners (BNPP IP). The project covers the investment manager’s international network across Europe, North America and Asia Pacific.
The new solution comprises “a complete multi-broker, multi-asset, integrated commission sharing agreement (CSA) and share-of-wallet hosted service”, says the vendor. Commcise also provided consultancy services to BNPP IP.
“Managing commissions has historically involved juggling spreadsheets, manual trade reconciliations and payment processes,” Commcise observes. However, manual processes are difficult to scale and monitor successfully. The project at BNPP IP was driven by the “need for automation and transparency, operating within an audited framework”.
Historic voting data was migrated and desk-level CSA balances were established, enabling “more granular management”. Commcise also introduced a single integrated process for consistent broker voting, research evaluation and research budgeting across all fund management and trading desks across BNPP IP’s locations worldwide.
Delphine Padovani, head of financial intermediaries relationships at BNPP IP, compliments the vendor’s “technical and business expertise”. She adds that “the product was rapidly configured to fit the nuances of our processes” and that Commcise successfully met “a very aggressive timeline” for the solution delivery.