Solutions · Brokerages
Commissions are now a minority of your revenue and clearing is your largest operating cost. They sit in different systems — so the one number that matters, what a correspondent or a desk actually contributes, is the one nobody can produce.
Commissions, ticket charges, securities lending, net interest on balances and routing revenue, set against the cost to clear them. Net contribution per correspondent, per desk, per client — computed from both ledgers rather than estimated from one.
Your trading record and your clearing record against each other, continuously rather than overnight. Breaks surfaced with the source conflict named and ranked by exposure rather than by age.
Fill quality, venue and routing analysis read against the same reconciled book that produced the revenue — so the best-execution evidence and the profitability number come from one model, not two.
Post-trade break detection, settlement discrepancy identification and monitoring of securities transactions, with lineage from every figure back to the row it came from.
None of this is a reporting failure. The reports are accurate and they arrive on time. The problem is structural, and it sits in three places.
Your largest operating cost scales with activity. Your largest revenue lines — securities lending, net interest on cash — scale with assets. A correspondent can be enormous on one and negligible on the other, and a per-ticket agreement never notices.
Two ledgers that must agree produce exceptions in proportion to activity. Resolve them by hand and every increment of growth arrives with a hire attached — which is operational leverage running backwards.
Overnight batch reconciliation assumed there was a night. A shorter settlement cycle and extended trading hours took it away. Firms that have not moved to continuous reconciliation are absorbing the difference in people.
We will show you where the trading record and the clearing record disagree, what each correspondent actually contributes, and what the gap is costing you. Thirty minutes to scope it.
