SunGard, a US based software and technology services firm, has introduced Protegent Compensation, a solution that supports the compensation processing and compliance risk management functions for sell-side retail and institutional brokerage firms.
SunGard said that its Protegent Compensation solution will enable broker-dealers reduce operational risk and increase the accuracy of how they administer payments to their representatives.
The new solution is integrated with SunGard’s Protegent Surveillance and protegent customer onboard, providing a comprehensive solution for regulatory risk and compliance management.
Protegent Compensation automates commission processes to mitigate cash-flow risk and reduce manual intervention and increase pay-out accuracy.
With the solution, brokerage firms can leverage a broad array of compensation rules, which includes fees, loans, draws, expenses, holds, splits, bonuses, garnishments and advances. Its rule sets support all asset classes, business models and pay cycles.
Raj Mahajan, president of trading business at SunGard, said: ”Protegent Compensation will help sell-side brokerage firms grow their businesses by helping them introduce new products and attract and retain talented representatives through the effective management of commissions pay-out processes and compliance risk.
“The introduction of Protegent Compensation to SunGard’s suite of compliance and risk solutions will help our customers further increase efficiencies and transparency in these areas.”