- “Streamlining our post-trade processing was a strategic decision that will enable us to understand our biggest cost drivers and accelerate customer acquisition efforts. In Firm58, we found a partner that can meet our current and future needs, allowing us to help our clients be more profitable in an unpredictable market environment.”
Dean Curnutt
CEO of Macro Risk Advisors
- “The more we learned about Firm58, the more we realized the firm’s technology supports many of our most important areas of focus. Working with Firm58, we can be more nimble and responsive to changing market conditions and verify we are receiving accurate rebates. The bonus of having all of this functionality available in one solution made this an easy decision.”
John Luttenberger
Head of Operations at Macro Risk Advisors
- “I am thrilled to have this opportunity to apply my securities industry experience to such a promising company. Firm58 has proven the value to clients of elevating post-trade processing out of legacy systems and business unit silos into a more strategic part of daily business. Brokers, execution venues and trading firms that push this project down the priority list run the risk of being left behind in today’s increasingly competitive markets.”
Mike Plunkett
Former president Instinet North America, fifth member of the Firm58 board of directors
- “Firm58’s online billing function allows C2 to offer market participants easy access to their invoices and the ability to view and download trade data and associated fees using only a web browser, 24 hours a day. By providing a self-service billing portal, we continue our focus on customer service and transparency and we provide an all-electronic billing solution for our fully electronic exchange.”
David Reynolds
Chief Accounting Officer of CBOE Holdings
- “As a broker dealer with a sophisticated and growing client base, it is imperative that we employ equally as sophisticated and transparent services to manage our trading operations. By consolidating many of our middle-office functions with Firm58, we are able to accomplish those goals and achieve significant operation efficiencies in the process. This is a win for our clients and a win for us.”
Stephen Ehrlich
Chief Executive Officer Lightspeed Financial
- “The new online facility is a tremendous benefit to our members, providing greater flexibility, efficiency and transparency in the billing process. With this web-based solution, our members have easy access to the information they need — including trade-level detail and historical data for all of their transaction-based invoices. The Firm58 Portal has greatly improved our invoicing distribution and efficiency.”
Bob Airo
Senior Vice President for Market Operations
NYSE Euronext
- “Firm58 anticipated a large opportunity very early and the company has carved out a leadership position that addresses the growing demand for post-trade management solutions. Today’s unpredictable financial climate is forcing capital markets firms to evaluate their current processes and make significant improvements in order to keep pace with trade volume, an aggressive regulatory environment, and cross-asset complexity. Firm58 has demonstrated an understanding of these market needs and we are energized to support the company’s vision to redefine the middle and back office.”
Jim Moran
Partner
North Bridge Venture Partners
- “Our combined technology solution will allow clients to obtain execution data electronically, enhancing their ability to meet audit and compliance obligations. In addition, the solution will facilitate the retrieval of execution information for recap, allocation, clearing and billing functionalities. Our technology partnerships empower our clients with customizable data access and streamline our delivery of the exceptional customer service they have come to expect.”
Eric White
Vice President
Cheevers & Company
- “Replacing our in-house system with Firm58′s billing solution delivers time and cost efficiencies for our exchange and benefits our Participants. Using Firm58′s system allows BOX to continue its commitment to transparency and availability by offering Participants online access to trade details and invoice data on a daily basis.”
Tony McCormick
CEO
BOX
- “As a new exchange, ELX intends to provide a meaningful difference at all stages of trading, and that includes post-trade transactions. Firm58 has an extensive platform that ensures our billing needs are supported, so we can focus our efforts on growing our marketshare, and maintaining a high level of customer service.”
Neal Wolkoff
CEO
ELX Futures
- “We currently use Firm58 to manage our end-to-end billing process which slashes several hours off our daily back office procedures; additionally with Firm58′s dynamic reporting capabilities, I now have daily visibility to the overall performance of the firm. Firm58 enables us to understand our revenues by customer, trader, venue and product on a daily basis.”
Robert Pellicone
Managing Member
Hamilton Executions
- “Prior to utilizing Firm58, we spent over twenty hours a month to generate our bills. With Firm58 we spend 30 minutes. As part of their service, Firm58 automatically pulls data from our trading venues … and our clearing firm and automatically calculates our client fees. Now month end billing is a non-event; Firm58 generates customer-specific bill formats by asset class and location, and then publishes them via email in PDF format. In addition, today’s customers are increasingly demanding more complex commission arrangements and Firm58′s sophisticated billing engine supports them all, ensuring our bills are accurate and issued on time.”
Lori Davidson
Chief Technology Officer
Hamilton Executions
- “Firm58 enables us to understand our execution costs across our trading venues, desks, traders and customers on a daily basis. Prior to utilizing Firm58 we spent over 20 hours at month end to produce and analyze estimated trading costs. Further, we would use these estimated or blended rates to determine profitability and trader compensation. However, blended rates are not an accurate measure of a trader’s performance, and we desired profitability information more frequently than once a month. We now know our costs precisely every single day. Firm58 daily dashboards allow us to be proactive rather than reactive.”
Kevin Carroll
Managing Partner
Pulse Trading
