Commission Management demo

What the demo shows

Tracks commission sharing and research accounts against research invoices, for trading desks

Every broker's commission sharing account, the UK and EU research payment accounts and the firm's own account appear as envelopes with their balance, this month's accruals and what waits to be paid. Checked invoices drop into the envelopes, and a mixed-use invoice visibly splits between an envelope and the firm. Eight agents do the work: the Intake agent reads every invoice in its own language and finds duplicates; the Eligibility agent tests each line against Section 28(e), the SEC's 2006 guidance and the firm's rulebook; the Mixed-use agent applies only a signed study and drafts re-studies when one lapses; the Balance agent routes each share and, when an account is short, proposes a split or a date; the Reconciliation agent ties broker statements and enforces client restrictions; the Second-check agent re-tests price, duplicates and bank details on a separate model; the Payment agent drafts the instructions; the Evidence agent keeps the record and builds the examiner pack. The analyst prepares, compliance approves with a reason code, finance releases, and the head of trading also approves $250,000 or more.

Transcript

1. 0:00Commission Management tracks commission sharing and research accounts against research invoices, for trading desks.
2. 0:10SEC staff lists mixed-use allocation among common deficiencies, from over 1,500 advisor exams.
3. 0:19Each broker's commission account is an envelope, balance, accruals, and what waits.
4. 0:27Here is Kestrel Data's terminal invoice, $186,000.
5. 0:32The eligibility agent cites the rule, market data but mixed use.
6. 0:42The signed study says 70% research, so the invoice splits between Pelham and the firm.
7. 0:50A second agent rechecks price, duplicates and bank details on its own, and agrees.
8. 0:58The analyst prepares, compliance reads the evidence, and approves with a reason code.
9. 1:05Every split is cited, signed by two people, and logged for the examiner pack.
10. 1:12This week, 38 payments ready in one step and $97,800 kept off client commissions.
11. 1:23Built on Botminds: agents, data, screens, and governance on one platform.

Transcribed from the film’s narration. Captions are on the player.