Billing Manager™ enables correspondent clearing firms to improve service and transparency to their introducing broker-dealers while increasing operational efficiency by automating billing process and the production of correspondent settlement information and statements. Clearing firms can tailor individual billing schedules for each correspondent and allow correspondents to receive comprehensive billing information and PDF settlement statements online through BillingWeb™. From commissions to adjustments, from product-based charges to volume-based breakpoints, from interest sharing to trading rebates, Billing Manager™ helps clearing firms improve service and better manage their correspondent clearing business relationships.
With support for both retail and institutional correspondent clearing models, Billing Manger™ also provides gross production reporting tools at the correspondent, branch and individual rep levels. Clearing firms with Billing Manager™ can further expand their service offering to correspondents with seamless integrations between Billing Manager™ and Xtiva’s Commission Manager™ / CommissionWeb™ applications for correspondent broker-dealers.