Hobart partners with Markit for commission management
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Hobart partners with Markit for commission management 21 November 2013London Reporter: Daniel Jackson
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Hobart Capital Markets, a leading UK agency broker, has partnered with Markit, a global financial information services company, to provide a commission management solution for buyside customers.
The arrangement enables buyside customers to adopt a ‘one-stop’ solution, allowing them to direct CSA related trades to Hobart’s execution platform, while reconciling those trades, along with the tracking of commission flows and management of third party payments, in a single location.
Simon Gamse, partner at Hobart, said: “With a robust infrastructure and secure IT capability, customers can take advantage of Hobart’s UK and European execution capabilities and leverage Markit’s Commission Manager platform in order to manage and allocate commission credits efficiently. This allows customers to execute trades via Hobart and track and manage commission payments via Markit, safe in the knowledge they have adhered to best practice.”
Tim Sargent, managing director at Markit, said: “We are delighted that Hobart has chosen to offer buyside customers access to Markit’s Commission Manager, alongside their trading and execution capabilities. This enables buyside customers to streamline their workflow processes and demonstrate they are efficiently managing and accounting for their CSA payments.”
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