Charles River Development Connects to CLSA’s BlocSec Platform
June 08, 2010
Direct access to BlocSec’s liquidity in Japan, Hong Kong, Singapore and Australia
Singapore, 08 June 2010 - BlocSec, the first Asian dark pool which caters to both buy-side and sell-side investors, and Charles River Development (Charles River), an award-winning provider of financial software and services to the global investment community, announced today the availability of direct access to Asia-based crossing network BlocSec via the Charles River Investment Management System (Charles River IMS).
BlocSec, wholly owned by CLSA Asia-Pacific Markets, was created to provide institutional investors with optimised execution for their Asian trades and minimise transaction costs and market impact. As a dark pool liquidity aggregator, BlocSec is an essential tool when trading in the Asian markets.
Now, Charles River clients can access BlocSec’s liquidity in Japan, Hong Kong, Singapore and Australia to anonymously trade large blocks of Asian equities and efficiently support workflows.
Managing Director, Asia-Pacific at Charles River Cameron Field said the alliance with BlocSec provides Charles River global buy-side clients with another option to easily access Asian liquidity venues. “This alliance is part of our strategy to give clients access to the entire spectrum of trading platforms, including ECNs, ATSs and dark pools,” Field said.
Director of Electronic Execution Sales at CLSA Christian Chan said: “Given the current market environment, investors are more focused than ever on finding liquidity, execution cost and quality, responding to this BlocSec provides an alternative source of liquidity with improved execution.”
“We are pleased to extend the availability of our anonymous pool of liquidity to Charles River IMS’s global client base.” Chan added.
BlocSec is the first Asia-based electronic crossing network to provide buy-side and sell-side investors access to a deep pool of anonymous liquidity for exclusive execution of Asian block trades. BlocSec’s continuous, high speed order matching and execution minimises transaction costs and eliminates information leakage into the market.
BlocSec is wholly owned by CLSA Asia-Pacific Markets and benefits from access to CLSA’s global pool of investors as well as infrastructure, credit risk and clearing and settlement services. BlocSec is located in Singapore.
BlocSec launched the Japan and Singapore markets in May 2008, the Hong Kong market in August 2008 and the Australia market in July 2009. In Hong Kong, the BlocSec service is only available to existing clients of CLSA.
About Charles River Development
Charles River Development is a front- and middle-office software solutions provider to more than 300 investment firms in the institutional, wealth management/trust, alternative, mutual fund, insurance, pension fund and fund administration/custody markets in over 35 countries. The Charles River Investment Management System (Charles River IMS) is an institutional-class multi-asset, multi-currency software suite that consists of five main modules: Charles River Manager for portfolio management and modeling; Charles River Compliance for real-time pre-trade, in-trade, post-execution and end-of-day compliance monitoring; Charles River Trader for order management, electronic trading and execution management; Charles River Post-Trade for the centralized management of trade matching, confirmation, and settlement workflow; and Charles River Performance for daily performance measurement, attribution, and performance risk.
Charles River IMS features a modern, proven, N-Tier service oriented architecture (SOA) that is highly scalable and supports continuous 24x7 operations. Message-based APIs and exposed Web Services facilitate rapid systems integration.
The system is fully integrated with the Charles River Network, a broker-neutral, financial network that incorporates global real-time electronic trading via FIX (Financial Information Exchange). Charles River also offers comprehensive FIX network and implementation services, as well as application management and hosting solutions.
Founded in 1984, Charles River maintains headquarters in Boston and primary offices in Beijing, London, Melbourne, New York, Paris, Singapore and Tokyo and has a local presence in every other major financial center of the world.
Charles River is the recipient of numerous recent industry awards including: Best Buy-Side Order Management System and Best Integrated Front-Office Platform, Buy-Side Technology 2009 Awards; Best Buy Side Technology Firm, Asia Asset Management Best of the Best Awards 2009; Best Risk Management System, AsianInvestor 2009 Service Provider Awards; and FinTech Top 100, American Banker/Financial Insights 2009.