How Firm58 has Helped Execution Venues

Firm58 is a recognized leader in execution venue billing automation and enabling execution venues to improve their exchange fee strategy through the use of advanced technology solutions. We regularly equip the world’s most important exchanges with the execution venue billing automation technology they need to achieve real-world business improvement.

Firm58 Empowers a New Electronic Trading Venue with Automated Billing Technology

A new electronic trading venue (exchange) approached Firm58 for help in developing a billing and invoicing system that would deliver added value to customers and support the venue’s business goals. Some of the trading venue’s most critical needs included:

  • A robust billing solution that would be ready the day the venue went live
  • A billing solution with the flexibility to change fee structures to drive more business and respond to competition
  • An advanced billing solution that would be secure and available 24×7
  • Billing technology that could scale with the company’s business
  • The ability to provide clients with direct access to their accounts and download their trades

Firm58 provided the trading venue with a billing solution designed to maximize the benefits of automation for execution venues. The Firm58 Billing solution provides the venue with:

  • A robust model that calculates all the costs and fees on a trade by trade basis
  • Visibility for clients into their client-by-client revenues
  • The ability to generate and distribute invoices within a few days of month end
  • Ability to model various price structures to generate new and more business
  • A professional portal front end that allows clients to view and download their invoices and trades
  • Data retention policies that maintain client data under regulatory requirements
  • A disaster recovery option that allows the exchange to continue to invoice its clients, even during a significant interruption to core services

By implementing Firm58’s execution venue billing automation technology, the trading venue achieved several critical outcomes:

  • Launched an exchange and billing solution together on day one
  • Tremendous revenue management and client invoicing visibility at the exchange level
  • Extremely satisfied clients with access to all trading information via a professional portal
  • Regulatory compliance with data retention
  • Peace of mind that in most disasters, the venue’s ability to invoice their clients will be uninterrupted