RFP News

Firm58 to Provide Macro Risk Advisors with Post-Trade Profitability Analysis

Published on 24 Mar 2011

Firm58, Inc., a financial management software company, announced its appointment by Macro Risk Advisors (MRA), an equity derivatives strategy and execution broker dealer, to provide post-trade technology solutions.

In support of the firm's steady growth, New York-based MRA is replacing its existing spreadsheet-driven processes with Firm58's Software as a Service (SaaS) offering. The initial implementation will provide daily profitability reporting, accessible from a central web-based dashboard, with no need for additional MRA headcount.

“Streamlining our post-trade processing was a strategic decision that will enable us to understand our biggest cost drivers and accelerate customer acquisition efforts,” said Dean Curnutt, CEO of MRA. “In Firm58, we found a partner that can meet our current and future needs, allowing us to help our clients be more profitable in an unpredictable market environment.”

Firm58 provides an online, centralized trade blotter that consolidates trade-level revenue and expense details across assets, clients, and business units. The flexibility of the software empowers firms to adopt and implement new pricing strategies in order to take on new types of clients and increase order flow while maintaining control over brokerage, clearing and execution costs. Additional Firm58 solutions address other revenue-driving programs, including commission sharing arrangements (CSA) and soft dollars.

“The more we learned about Firm58, the more we realized the firm's technology supports many of our most important areas of focus,” said John Luttenberger, head of operations at MRA. “Working with Firm58, we can be more nimble and responsive to changing market conditions and verify we are receiving accurate rebates. The bonus of having all of this functionality available in one solution made this an easy decision.”

“We're thrilled to be working with Macro Risk Advisors to automate their post-trade processing,” said Nick Fera, Firm58's chief executive officer. “MRA not only recognizes the importance of driving topline revenue, but also streamlining many of the manual middle-office functions that are garnering increased government attention. We look forward to helping the firm maintain and grow its competitive market position.”**

Tags

Vendor name:	Firm58
Buyer name:	Macro Risk Advisors
Product type:	Broker Management Solutions | Derivatives | Trading Systems

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