Custom reporting added to its client portal
As more asset managers and hedge funds adopt outsourced trading, they’ve come to want more than an efficiency play; they expect expanded capability and services from their brokers. For brokers offering outsourced trading services, providing the highest level of service is a critical competitive advantage.
“Adding ad-hoc reporting to the client portal means brokers can save time and clients are not locked into a single set of standardized reports.”
To meet this need, Castine has expanded its Outsourced Trading module with a client-managed reporting tool to the client portal. This gives clients the benefit of running reports when and how they want, in addition to the existing statements and standardized reports within the system.
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With the growing adoption of Castine’s Outsourced Trading module by brokers wanting to offer outsourced trading services to their clients, Castine has looked for ways to help brokers as they work with more and more clients. “Enabling clients to run their own reports across all of their outsourced trades – filtering and sorting however they wanted – was a gamechanger for clients and brokers alike,” says Robin Hodgkins, Castine’s President.
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The Outsourced Trading Module is a component of Castine’s C3 platform that allows brokers to offer clients a simple high touch trading desk or full-service outsourced trading, managing all trades, commissions and soft dollar/CSA’s with all counterparties. The client portal gives clients visibility into all activity the outsourced desk performs on their behalf. Brokers have had the ability to run reports on a client’s trades and statements, but can now let clients run their own custom reports whenever they like. “There is no one size fits all, standardized approach to outsourced trading,” stated Tom Smith, Castine’s Executive Vice President. “Adding ad-hoc reporting to the client portal means brokers can save time and clients are not locked into a single set of standardized reports.”
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Castine’s Outsourced Trading module can be used on its own by brokers wanting to expand into this growth area or it can be used with other C3 modules. Many broker clients of Castine offer outsourced trading side-by-side with CSA commission management, compensation, invoicing, and other Castine modules.
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