CCFin Launch New Version of BMP's Multi-tier Plugin for IB Management
Introducing the NEW and IMPROVED BMP Multi-tier IB management and automation.
- (1888PressRelease) November 30, 2017 - Part of a brokerage’s business is driven by a introducing brokers (IB) who have a direct relationship with traders (clients). In general, the IB does not manage the task of floor operations and trade execution for his clients but will make recommendations and delegate these tasks to a brokerage.
Across many brokerages, the concept of “Multi-tier” is often seen as a vital success component for the business and is used as such. This Multi-tier concept explains the structure of hierarchy in which there is a master IB(s) who can refer sub-IB(s) and who in turn can recommend traders, and other IBs. This is also known as a ladder structure and a good ladder structure will be able to generate a lot of trading volume and revenue for the business.
However, as a ladder continues to grow, it can be a very tedious task for the brokerage to manage the master IBs, the sub IBs, the traders and their interdependent relationships. With each trade the brokerage will need to calculate the commision distributed to each IB partner in the ladder. This is time consuming as well as error-prone.
To ease the process for users, Cloud Connected Financial (CCFin), a Boston based financial technology company have developed a plugin for their Brokerage Management Platform (BMP) which will automate those calculation. This plugin will enable the BMP to give brokerage’s existing IBs the ability to construct their own Sub-Ib’s system. It will allow the users IB’s to sign up an infinite number of IBs under them. These new sub-Ibs will also be able to construct their own Multi-tier system. After users set up the “rebates” for each master IB, the BMP will use those setting to compute the commission. In addition to this feature, the Multi-tier plugin can provide tracking and analytics across the entire ladder so that the IBs can review the trades of their referrals and the commissions generated.
Initially, when the BMP Multi-tier plugin was first introduced, the system seems to be complicated and confusing to setup. A lot of trainings were required to setup the plugin and for brokers to get acquainted to the system. Having taken feedbacks from their clients, CCFin have recently recently improved their GUI for a better UX. They have implemented an IB ladder UI making it very straightforward for the admin to figure out how to set up the rebates.
In addition to this improvement, the new Multi-tier plugin also offers marketing materials (referral/affiliate links, banners, tracked campaigns…) for the IBs to create a powerful network utilizing CCFin’s technology.
CCFin offers many more automation features implemented in the BMP platform, for more information or to request a free demo, please visit http://bit.ly/2k9OVjE
About CCFin
CCFIn - Cloud Connected Financial is a Boston based financial technologies company that provides solutions for small to medium size retail FX brokers. CCFin builds robust solution for growing brokerages that are looking to automate business operations in one central location, on the cloud. Our solutions give you the feel of work customized to your brokerage in functionality, with the smooth implementation of a cloud solution. Founded by industry veterans, CCFin has 20 years’ experience in the fx industry. We’ve seen it all. We know what works, what doesn’t, and how to bring our costs down so we the price can come down with it. More information can be found at: http://bit.ly/2k9OVjE
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