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Brokerage Reconciliation Software

What is CLEAR?

During the analog days of open outcry, the New York Mercantile Exchange utilized a universal back-office system for daily trade capture, monthly invoicing and collections. We couldn’t understand why today’s process is so time-consuming and painstakingly manual, while it was so simple 30 years ago. So, we created CLEAR to reduce time spent on Middle and Back office work by up to 90%.

CLEAR Count - Realtime Invoice Reconciliation

Trader Workflow

Broker invoices automatically pulled into CLEAR on the 1st of the month
CLEAR Count compares invoices to rate sheet and shows discrepancies on a trade-by-trade basis
Invoice from ABC Commodity Brokers for April, 2017received April 30th 2017, 3:53:35 pmApproveFlag for ReviewShow ConflictsEmailUnder ReviewInvoice Total: $18,250Overcharged by $1,450CLEAR Count Total: $16,800Trade IDDescriptionRateBillable9208609Sell 750 Q3 17 WA -0.25 Straddle strip at 0.210.0040 $ / bbl$9,000.009208610Sell 800 Jun 17 LO 56.00/60.00 1 x 2 Call Spread at 0.210.0040 $ / bbl$3,200.009208611Sell 400 Q3 17 WA -0.25 Put strip at 0.100.0040 $ / bbl$4,800.009208612Sell 1,000 Apr 17 CL at 48.651.2500 $ / lot$1,250.00Trade IDDescriptionRateBillable9208609Sell 750 Q3 17 WA -0.25 Straddle strip at 0.210.0040 $ / bbl$9,000.009208610Sell 800 Jun 17 LO 56.00/60.00 1 x 2 Call Spread at 0.210.0025 $ / bbl$2,000.009208611Sell 400 Q3 17 WA -0.25 Put strip at 0.100.0040 $ / bbl$4,800.009208612Sell 1,000 Apr 17 CL at 48.651.0000 $ / lot$1,000.00
Approved?
YesAccounting SystemPayment
NoEmail Discrepancies to Brokers
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Middle Office for Brokers

Broker Workflow

TradeBank Account FeedAutomatic ConfirmInstant ICE Chat ConfirmsEmail ConfirmsAggregate Confirms by CustomerAP Commission by AccountPerformance StatisticsAggregate InvoicesAP CommissionNFA Month End I-FR-B AccrualsQuickbooks, Xero, IntacctNetsuite, OracleEnd of DayEnd of MonthInternal Accounting SoftwareAccounting IntegrationTracking Collection DataCMEICENDQBroker Data EntryTrade Capture
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Our team

Rudy Hasbun
Rod Hasbun
Anton Svyatsky
Adela Peña
Dmitry Koteroff
Alexey Pshenichny
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Headquarters
Clear Software Co.
3118 Richmond Avenue
Suite 200
Houston, TX 77098

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