Hamilton Executions Optimizes Revenue Management with Firm58
Firm58 streamlines daily back office procedures at Hamilton Executions.
CHICAGO, April 22, 2008 Firm58, Inc., (www.firm58.com), developer of post-trade management software solutions for the capital markets industry, announced today that its platform is being utilized by Hamilton Executions to calculate client commissions, generate and publish client bills, and to provide daily revenue reports.
We currently use Firm58 to manage our end-to-end billing process which slashes several hours off our daily back office procedures; additionally with Firm58s 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, stated Robert Pellicone, Managing Member at Hamilton Executions. I am very excited about our results with Firm58 and I look forward to expanding our relationship to include compliance and expense management reporting.
Prior to utilizing Firm58, we spent over twenty hours a month to generate our bills, noted Lori Davidson, Chief Technology Officer at Hamilton Executions. With Firm58 we spend 30 minutes. As part of their service, Firm58 automatically pulls data from our trading venues such as the American Stock Exchange 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, todays customers are increasingly demanding more complex commission arrangements and Firm58s sophisticated billing engine supports them all, ensuring our bills are accurate and issued on time.
Curt Witte, CEO and President of Firm58, added Firm58 is focused on providing solutions that not only drive cost savings but also increase revenues and customer loyalty. Our success with Hamilton Executions validates the power of our solutions. With transaction volumes continuing to increase and profit margins continuing to decline, firms spanning all capital market segments, must focus on post-trade management efficiency and increase efforts to improve bottom-line results. For Firm58 the timing could not be better for the solutions we are offering.
About Firm58, Inc.
Firm58 unifies the financial enterprise by offering on-demand post-trade management software solutions for critical capital markets operations including billing, execution cost, and position management; soft dollar and compensation accounting; reconciliation and analytics. By automating all post-trade processes, regardless of asset class, Firm58 enables organizations to enhance revenues while simultaneously reducing costs. Firm58 may be contacted at email@example.com or www.Firm58.com.
About Hamilton Executions
Hamilton Executions L.L.C., a member of the American Stock Exchange (AMEX) has the power to be everywhere at once. With years of experience in execution services and armed with the latest technology, Hamilton Executions provides cost-effective and technologically advanced floor executions on all equity, option and derivative trading exchanges. Hamilton Executions may be contacted at firstname.lastname@example.org or www.hamiltonex.com.