NEW YORK – November 21, 2013 – Instinet Incorporated today announced three new developments around its award-winning commission management platform:
Instinet, through its brokerage subsidiaries, is one of the largest providers of commission management services globally, with clients in 2013 expected to direct more than USD$400M in payments on nearly 30,000 invoices through Plazma. In addition to providing the ability to aggregate commission credits, Plazma also enables clients to direct payments to nearly 2,100 providers (vendors, brokers and IRPs) as well as manage budgets, perform payment analyses, conduct broker votes and rate providers.
“CSA and CCA programs continue to gain favor worldwide as a means to provide transparency into the commission payment process, and Instinet has long been at the forefront of driving this trend,” said Luke Mauro, Global Head of Operations at Instinet. “Over the years we’ve worked extensively with our clients to develop CMS solutions that deliver tangible workflow benefits, and we’re pleased to build on this legacy of collaborative innovation with these latest enhancements.”