US Bank Northern Trust is partnering Commcise to streamline its commission management process with Integrated Trade Solutions (ITS).

The partnership with Commcise, a cloud-based software solutions provider, will offer Northern Trust’s clients commission management and aggregation services, research valuation, consumption tracking and share-of-wallet reporting capabilities.

Grant Johnsey, head of integrated trading solutions, Americas, for Northern Trust Capital Markets, said: “We chose Commcise as a best-in-breed provider of technology and commission aggregation services to give clients a complete view and management of their full commission wallet and research budgets.

“This enhanced capability is evidence of how we look across the spectrum of client challenges and provide solutions for their whole office.”

Commcise’s web-based platform provides managers with automated soft dollar reconciliation, invoice/contract management, commission targeting, broker voting, commission management and reporting.

The portal also enables tracking and reporting of research expenses, invoices and payments while client service teams provide commission aggregation services including trade reconciliation and invoice management.

Amrish Ganatra, chief executive at Commcise, commented: "We are delighted to collaborate with Northern Trust. They are a leader in outsourced trading, especially with larger asset managers and hedge funds. As many of their clients fully outsource trading to them, we believe that our tools to help manage commission budgets and track research utilisation will prove extremely valuable."

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