Commission Settlement System – A Securities Broker & Trader
Solution: Commission Settlement System
Technologies: Microsoft Access
Solution Type: Custom Database Application
The League Corporation, based in Chicago, Illinois, has been a member of the CBOT since 1973. The League Corporation, a proprietary trading firm, deals in interest rate, agricultural, equity index and metals, energy and other futures contracts.
The firm required a solution to reconcile and settle trading commissions on a daily basis. These commissions are based on daily trading activity and are computed at the end of each day. The firm uses a sliding scale to compute commissions and allocate funds to traders and their managers with the remaining allocated to the brokerage house.
The Access Database application enables the import of transactions on a daily basis to compute commission payments.
The alligatortek team was selected to develop a customized solution for The League Corporation. The Commission Settlement System allows the import of daily transactions from the Trade Settlement System and reconciles commission payments. Users can also generate a variety of trading summary reports.
The back office can efficiently generate detail reporting for an individual trader or statistical details against all traders.
Managers can now track traders against individual threshold parameters. For instance, each trader can be configured for a maximum loss limit.