COMMISS - Monthly Commissions Reports
What is COMMISS/EARNINGS
These reports show the performance of clients' trading whereby you can view gross earnings grouped by Department, Account Manager/trader, Introductory broker. There is a report style that will list the accounts that are not currently trading.
The majority of reports will show results in their EARNING currency, some reports will show target currency equivalence, using SPOT exchange rates.
The different report styles include the main Monthly summary which is organised by trading type (FX, Futures, Options, CFD, Bonds, Shares) with another style providing a detail analysis of Futures/Options by individual instrument (FTSE, DOW, GOLD ..) The daily earnings report summarises by currency and trade type .
Each trade type has its own commission structures maintained in client profile (CLI). The analysis includes all the deals/trades entered using their contract date. In the majority of cases commission is payable upfront but occasionally it is collected at settlement/liquidation. These reports will agree with the accounting reports (e.g. PLR) only when commissions are paid upfront or when everything has been settled. Earnings on Giveups are included but can only be recognized separately, if their accounts are segregated and easily identified.
a) The 'earnings reports' provide various reviews by account manager/currency/client/trader and a separate review by client/currency with company reporting currency equivalent totals. This report will only list the client accounts. The payments to the broker/bank for commission are viewed from accounting procedures e.g. NAQ, CLI, PLR or using the broker style in ‘RECAPS’.
b) The 'Monthly commission by client and commodity' report provides a column per commodity/instrument for each operational currency, listing by account (both client and broker).
c) The ‘Monthly Earnings by Client’ report provides 2 reports. Ccy/Account and Account/Currency. Net earnings are listed for F&O, CFDs, FX Commission, FX Pippage and SHARE commissions. Company Target Currency totals are shown.
d) The 'Monthly commission by client and commodity' report provides a column per commodity/instrument (F&O/CFD) for each operational currency, listing by account (both client and broker).
e) The 'earning to equity ratios' report is designed to relate a period's earnings with the average net liquidity per private client. This is a useful tool for regulatory bodies e.g. FSA to confirm commission rates etc. The F&O/CFD gross commissions, FX Pippage and SHARE commissions are compared in total with the Average Net Liquidation values(secured overnight).
f) The ‘performance’ report reviews a month/period selection to list each account with its gross earnings and the average daily net liquidity. This is a summarized view of the ‘Earnings to Equity’ report.
g) The ‘Clients general performance’ uses a start date to provide a simple list of account descriptions which have not traded since that date { uses INTVAL database records}, a list of new accounts that have been created since that date and a list of accounts that have been frozen/closed since that date.
The 4th section is a summary in main company currency equivalent which lists every client account and its financial status with a column for Cash Receipts, Cash Payments and current balance.
h) The 'capital used' summarizes the client accounts into 'expert/intermediate’ and 'private client' and illustrates volumes, gross earnings and average deposit requirements. The deposit requirements are collected in the overnight processes. The analysis is by Futures, Options, CFD and FX.