What is CLEAR™?

Once upon a time, during the analog days of open outcry trading on the New York Mercantile Exchange there was an automated back-office system that provided confirm/error capture/invoicing/collections for all floor members. Errors were caught immediately, systems were synchronized, billing was seamless, and collection a breeze. Why is it that technology that existed 30 years ago was 10x better than what we have today?

Let’s compare:

Back in the Day
Today
Back Office Functions
Subsidized with member’s seat lease
Each broker/trader has their own reconciliation HR; painful & costly
Confirms
Immediately via phone, and again end of day (EOD)
Costly HR picking up needles out of a data haystack all day on both broker and trader side
Rate Data & Standardization
Worked like magic
Chaos. Data fragmented across multiple billing conventions, FCM’s, Give Ups, exchanges; no consistent rate policy
Trade Reconciliation
EOD & T+1; Errors in prices/quantity/account caught together with billing
Only end of the month, upon receipt of invoice
Collections
7th biz day of following month (July’s invoices paid 7th day of August)
Nightmare for brokers, time killer for traders; Brokers turnover collections in 60-75 days with 5-10% loss; Traders back office are inundated with backlogs

There has to be a better way!

What does CLEAR™ offer?

Brokers

  • Eliminate back office costs
  • Automated confirm solution
  • Integrated invoicing solution
  • Speedy collections service
see demo

Traders

  • Elimination of confirm inbox
  • No more reconciling the equivalent of 500 cell phone bills at end of the month
  • No more looking for a needle-in-a-haystack, figuring out a trade from 45 days ago
  • Automated and integrated workflow for confirm-reconciliation of invoices-accounting-payment
see demo

How does CLEAR™ work?

BuyerinterestSellerinterestBrokerTradebrokerdata entryCMENasdaqICEtrade captureCLEARConfirmsInvoicingReconciliationAccounting IntegrationCollections

Our team

Rudy Hasbun
Rod Hasbun
Anton Svyatsky
Adela Peña
Dmitry Koteroff
Alexey Pshenichny
Talk to us
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Headquarters
Clear Software Co.
3118 Richmond Avenue
Suite 200
Houston, TX 77098
hello@isclear.com

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