Payments provides a platform, designed in partnership with leading global banks, for virtually aggregating commission credits to support efficient management of CCA/CSA credits and eligible payments.
Evolving global regulations, including MiFID II, have led to heightened focus on how commission dollars are allocated. For buy-side firms, managing multiple CCA/CSA programs can be complex and operationally inefficient. IHS Markit helps buy-side firms virtually aggregate, view and manage CCA/CSA credits through our Payments platform.
Our automated reconciliation engine uses sophisticated matching criteria to identify discrepancies. Integration with our Evaluations platform allows seamless retrieval of broker vote results to support commission allocations and keep a historical record of activity of sell-side interactions.
Sell-side firms can also use the Payments platform to aggregate their clients’ CCA/CSA balances in a cost-effective manner. The platform allows users to see direct CCA/CSA activity, including balances, payments and trade reconciliations.
Our Research Payment Account (RPA) Manager platform is a MiFID II compliant solution for managing global commissions utilized for the payment of research.
RPA Manager provides the buyside with the tools necessary for adhering to MiFID II regulatory requirements. The application has the ability to set and track budgets, fund RPAs, tracking CSA swept balances, facilitate receipt of invoices, payment management and report generation.
- Single view – Deliver a single, consolidated view of CSA/CCA balances across multiple counterparties
- Operational efficiency – Reduce time and resources to reconcile trades and manage breaks and discrepancies
- Enhanced reporting and compliance – Access budget, fund level, audit reports and historical data for up to 10 years
- Cost efficiency – Complimentary to buy-side firms or pay a flat annual fee per client, with no per share toll charges for sell-side firms
- Centralized payment management – Manage payments across CCA/CSA brokers, with split payment functionality and provide clients with a web portal for managing balances and reconciling trades
Payments for the Buyside factsheet