New York - ConvergEx Group, the provider of brokerage and trading-related services, has announced that Westminster Research Associates has released a new Commission Management Platform with enhanced navigation, usability and design features.
"We are pleased to provide our clients with a powerful new web-based solution to manage their CSA business," said Dan Sheehan, head of operations for Westminster. "Many of the features incorporated into our new offering have been driven by client demand and the need to have more robust workflow controls in place."
· Streamlined CSA 'click to pay' functionality;
· Additional approval queues, allowing clients to create multi-step authorization processes within their own workflow;
· Easy upload and transmission of invoice and broker vote files to Westminster; and
· Improvements to statements, account snapshots, invoice approval and trade detail queues.
To complement these client facing enhancements, upgrades were also made to Westminster's internal supporting applications including faster servers and innovative workflow tools. When combined, these front and back office enhancements will improve Westminster's industry leading offering and further establish Westminster's comprehensive commission management solution as the benchmark against which others are measured.
"As the use of CSAs and CCAs continues to grow, the need to expand our on-line CSA management capabilities has become paramount," said Tim O'Halloran, co-president of Westminster. "Our clients rely on Westminster for timely access to their research and trading data, as well as for the service, expertise and experience of our team. With research and execution becoming more unbundled, a comprehensive commission management solution has become integral to the investment management community."