Credit Suisse strengthens SmartStream deal for derivatives brokerage fees
Credit Suisse and SmartStream strengthen partnership
SmartStream Technologies, the financial transaction lifecycle management (TLM) solutions provider, has revealed that its original agreement with Credit Suisse was recently expanded to include the processing of listed derivatives brokerage fees which began in February of this year.
According to SmartStream, this expansion in their partnership complements its existing managed service solution for the processing of invoices and reconciliations within Credit Suisse’s OTC fixed income derivatives, US listed equity options and cash equities businesses across brokerage, clearing and exchange fees operations, which began in June of 2016.
Haytham Kaddoura, CEO, SmartStream, says its solutions have “proven time and again their ability to deliver key cost and operational efficiencies at tier one financial institutions around the world”.
The managed service enables the bank to “advance the operational efficiencies created through the use of the utility-based solutions offered by SmartStream, utilising their proprietary execution fees and expense management software”.
In addition, SmartStream states that by centralising the entire cost management ecosystem across all service providers from receipt of invoice to automatic fee calculation, accruals, reconciliation and payment, the bank can “better realise enhanced controls and transparency and achieve greater cost optimisation”.
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