ITG Launches Turnkey Research Payment Account Solution
February 27 2017 - 7:59AM
ITG (NYSE:ITG), a leading independent broker and financial
technology provider, today announced the rollout of an enhanced
Research Payment Account (RPA) solution to enable asset managers to
adapt to the unbundling of research and execution required under
the coming MiFID II rules in Europe.
The new ITG RPA solution offers a number of key
features:
- Funding Flexibility and Security – The RPA can
be funded with a research charge alongside the execution in a
manner that can be operationally similar to a traditional
Commission Sharing Agreement (CSA), but it can also be funded with
a direct research charge to investors or from a firm’s own P&L.
RPA accounts managed by ITG are held in an escrow account
at a major global bank in Europe, segregated from brokers’ funds
and controlled by the asset manager.
- Streamlined Administration – The ITG RPA
solution includes administrative tools that will enable asset
managers to set research valuations, create and track budgets for
their end clients, segregate RPA balances by portfolio, strategy,
client, region or investment team, and track executions and
research at the broker, portfolio, strategy, and trader level.
These tools can save valuable time and resources.
- Expert Global Guidance – ITG has
dedicated commission management, finance and operations support
teams in Europe, North America and the Asia Pacific region staffed
by veteran team members, many with decades of experience in trade
reconciliation, vendor vetting and payment administration.
Commenting on the new enhanced RPA solution, ITG’s Head of
Global Commission Management, Jack Pollina, said “the coming MiFID
II unbundling requirements are likely to impact asset managers
around the world, not just in Europe. More than ever, European and
global asset managers need an experienced global commission
management partner to help them navigate and implement complex
operational processes. ITG’s dedicated global team and
enhanced RPA solution will enable clients to meet the challenges of
MiFID II compliance and reporting, easing regulatory and
administrative burdens and providing payment flexibility.”
ITG is a leading provider of commission management services and
offers both traditional CSA and aggregation services worldwide as
well as RPA administration services for asset managers with
registered operations in Europe. ITG provides access to a
network of more than 5,000 research providers, brokers and vendors
worldwide. ITG was ranked #1 for CSA service and
execution quality among mutual funds and hedge funds in the 2016
Greenwich Associates U.S. survey. For more information about ITG’s
global commission management services please contact
info@itg.com.
About ITGITG applies technology and trading
expertise to reduce implementation costs, helping clients improve
investment performance. An independent broker established in 1987,
ITG provides liquidity, execution, analytics and workflow solutions
to leading asset management and brokerage firms. Investment
Technology Group, Inc. (NYSE:ITG) has offices in Asia
Pacific, Europe and North America and offers
trading services in more than 50 countries. For more information,
please visit www.itg.com.
Commission Management Sales:
Aoife Carey (London)
+44 20 7670 4073
aoife.carey@itg.com
Jack Pollina (New York)
+1 212 444 6282
jack.pollina@itg.com
ITG Media/Investor Contact:
J.T. Farley
+1-212-444-6259
corpcomm@itg.com
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