For SMB Broker Dealers & Offers Free Services Under New ‘Fast Start Program’

CHICAGO — July 24, 2012 — Firm58, Inc., an independent financial management software company, announced today that it is introducing a new commission sharing agreement (CSA) solution focused on the needs of small and medium sized broker dealers and is offering it free of charge to those broker dealers who have 10 or less clients under CSA/Soft Dollar management.
Through Chicago-based Firm58’s new CSA product, SMB broker dealers who have struggled with their decision to automate their CSA/Soft Dollar programs due to implementation complexity and exorbitant fees of current vendor solutions, now have a cost-effective, rapidly deployed alternative. Although CSA programs are intended to increase the size and loyalty of a broker’s business, most small broker dealers can’t afford the time or costs to implement an automated, on-line system. As a result they resort to managing their programs with spreadsheets; however, spreadsheet based solutions lack the security, auditability, version control, operational efficiency and data transparency buy side clients now demand, further driving the need for a highly functional, economical, turnkey solution.
“We’re excited to offer SMB broker dealers a new alternative to automate their CSA/Soft Dollar programs,” said Nick Fera, Firm58’s CEO. “We have taken the knowledge acquired in serving some of the largest financial institutions over the past three years to build a solution for the SMB market providing enterprise functionality yet implemented in a fraction of the time. With our new Fast Start Program, SMB Brokers will now be able to offer the very same capabilities as their much larger counterparts for free.”
Over the past several years CSA offerings have become a necessity for broker dealers to stave off customer attrition and attract new business.    Firm58 is perfectly positioned to help the SMB market overcome those challenges by taking advantage of our new rapidly deployed, software-as-a-service offering.
Starting immediately, Broker Dealers with 10 (or less) CSA/Soft Dollar clients can sign up for free CSA services from Firm58. “We can’t think of a better way to help the Broker Dealer community reinvigorate its trading business during these difficult economic times. Long term this Fast Start Program is a win-win for both Firm58 and the Broker Dealer community,” said Fera. Access to Firm58’s CSA Fast Start Program ends December 31, 2012.
Firm58′s solutions have been adopted by financial institutions to manage fees, commissions and payouts, including billing, daily profitability reporting, and soft dollar program management. The company manages the billing function for many of the top bulge bracket firms as well as global exchanges, including the CBOE Stock Exchange (CBSX), the Boston Options Exchange, and ELX Futures. Prominent institutional brokerages, broker-dealers, and proprietary trading firms including Lightspeed, and Hamilton Executions also employ Firm58′s solutions. Founded in 2005, Firm58 is based in Chicago, and is backed by New World Ventures and North Bridge Venture Partners.
For more information please visit our website at www.firm58.com or call us at 1-888-4FIRM58 and ask for Sales to schedule a demonstration.
About Firm58, Inc.
Firm58 simplifies trade operations for capital markets firms. The company’s web-based financial management software manages the processes associated with fees, commissions and payouts to help increase revenue and operational efficiency, and reduce costs. The Software as a Service (SaaS) platform automates middle- and back-office processes across asset classes to provide insight into daily profitability and protect revenue. Firm58 offers solutions for billing, profitability analysis, commission sharing arrangements/soft dollar management, compensation, and accounting. Clients include global market exchanges and execution venues, leading institutional brokerages, clearing and non-clearing broker-dealers, and proprietary trading firms. Founded in 2005, Firm58 has offices in Chicago and New York, and is backed by New World Ventures and North Bridge Venture Partners. For more information, visit www.firm58.com.

Contacts:
Sam Mele
Firm58, Inc.
888-434-7658 x200
sam.mele@firm58.com