GL TRADE, a provider of multi-asset and multi-market services for financial institutions, announces the expansion of its back-office product component suite with Instant Brokerage.
A latest addition designed to manage and automate electronically traded derivatives’ brokerage processes.
Instant Brokerage is a service aimed at futures and options firms offering brokerage services, execution (Give Up – receivables) and/or clearing (Take In – payables) processes. Instant Brokerage offers a complete service including capturing trades, managing brokerage fees and commissions, generating invoices and issuing accounting entries.
Invoicing features, full reconciliation process between payments and invoices, drill-down capabilities and aging allowing users to control outstanding invoices and easily manage debtor tracking are the main benefits for the component’s users.
Instant Brokerage’s functionalities have already convinced four clients including two tier-one institutions who are using them in production.
In addition Instant Brokerage can be deployed in-house or in ASP mode of operations. It can also be fully integrated either with GL TRADE’s systems (CLEARVISION/UBIX), or with other back-office legacy systems.
“Our clients have selected Instant Brokerage to streamline their invoicing process and consequently to accelerate their payment recovery,” says Laurent Jacquemin, global head of post-trade for derivatives business line, Gl TRADE.