With this arrangement, asset managers who use Dealogic Connect for reconciliation and evaluation of bank activities will have seamless access to the ITG Research Payment Account (RPA). This allows European asset managers to fund their RPAs with a research charge alongside the execution, in a manner that can be operationally similar to a traditional Commission Sharing Agreement (CSA). RPA accounts managed by ITG are held in a bank account at a major global bank in Europe, segregated from brokers’ funds, administered by ITG and controlled by the asset manager.
“This is just another proof point that Dealogic Connect offers an easy and comprehensive solution for buyside firms,” noted Jody Drulard, Dealogic’s Chief Product Officer. “We know commission management is top-of-mind, by collaborating with ITG we ensure firms can use whatever provider they want.”
Jack Pollina, ITG’s Global Head of Commission Management, commented, “With the MiFID II implementation date quickly approaching, asset managers will need global partners to provide end-to-end solutions. Working together with Dealogic enables us to provide clients with the tools they need to address the compliance and reporting challenges that lie ahead.”
Dealogic Connect offers a seamless electronic connection between the buyside and sellside. Investment firms can reconcile and evaluate all bank-provided activities, ensuring a complete audit trail satisfying MiFID II regulatory needs, as well as input IOIs to their brokers on primary markets issuance.
Dealogic offers integrated content, analytics, and technology via targeted products and services to financial firms worldwide. Whether working in capital markets, sales and trading, banking, or the buyside, firms rely on Dealogic’s platform to connect and more effectively identify opportunities, execute deals, and manage risk. With 30 years’ experience and a deep understanding of financial markets, Dealogic is a trusted global partner. For more information on Dealogic, visit www.dealogic.com
Investment Technology Group applies technology and trading expertise to reduce implementation costs, helping clients improve investment performance. ITG is a leading provider of commission management services including research payment and budget capabilities and offers both traditional CSA and aggregation services worldwide as well as RPA administration services for asset managers with registered operations in Europe. ITG provides access to a network of more than 5,000 research providers, brokers and vendors worldwide. ITG’s commission management team of more than 30 experienced client service, ﬁnance and operations professionals in Europe, North America and Asia Paciﬁc, are dedicated to guiding clients in their global RPA management. ITG was ranked #1 for CSA service and execution quality among mutual funds and hedge funds in the 2016 Greenwich Associates U.S. survey. For more information, visit www.itg.com.