Zurich, Switzerland (04.02.2019) – Quartal Financial Solutions, Europe’s pre-eminent provider of commission, fee billing and revenue management solutions announced today the release of Quartal COMMISSION / FEE MANAGER Version 10.4. Quartal continues to lead the market in terms of its investment in product research and development and is extending upon the Version 10.x foundation, first made available in Q2 2017.

This latest release adds further new features and improvements to Quartal’s market leading solution suite and includes enhancements covering functionality, performance and usability. Although not an exhaustive list, enhancement highlights include:

  • Dynamic Rules – these rules allow the dynamic definition of members of a Product Group or Customer Group – e.g. “use all Share Classes of type A with an annual charge >= 80 bps” or “use all Accounts linked to the Euroclear depository”. The members of the Group are then identified at the point of use and applied in a calculation or when displaying to screen
  • Adjustments – this functionality uses the results of a primary calculation and adjusts the result through the application of a set of rules e.g. to cater for a minimum / maximum value or a rate premium / discount.
  • Unit Fees – this algorithm type facilitates the performance of calculations based on underlying data, which is not transaction or holdings based e.g. a service fee based on the number of share classes on a platform
  • Dunning Processing – this function extends our payment reconciliation process to track the length of time a payment is overdue and creates Dunning Letters to chase settlement
  • Transaction based Calculations –this type of calculation has always been handled by Quartal COMMISSION / FEE MANAGER but has now been migrated into the new .NET framework. Originally part of the 10.1 release, more information regarding the .NET framework can be found here.
  • Workflow “Reasons” – we have extended our operational workflow controls by introducing the ability to define a set of “reasons” and link them to workflow status transitions. These reason codes are available for analysis  as part of the operational MI.

Version 10.4 was available for release to production clients as of 31 January 2019.