Commission Sharing Agreements
We offer trading clients the ability to use our 24-hour, agency-only trading desk to pay for a broad selection of research products and services through Commission Sharing Arrangements (CSA).
By setting up a CSA with PGM, clients can reallocate commissions to third parties – such as other brokers, independent research providers and market data providers such as Bloomberg or Reuters –for their research. The CSA provides for an execution-only commission rate to be subtracted from the client’s full-service commission rate. The balance of the commission is held on account by PGM and paid out upon instruction from the client to diverse research providers of their choice.
Benefits for clients
CSA’s are a way to unbundle execution costs from research costs, providing an efficient, inexpensive and transparent way for investment managers to pay for independent research while getting the very best execution services available.