Boston — February 8, 2011 — Charles River Development (Charles River), a front- and middle-office investment software solutions provider, today announced that in 2010 the company grew its customer base with the addition of 39 new/expanded client relationships worldwide and released Version 9.1 of the Charles River Investment Management System (Charles River IMS). The company also continued to broaden its distribution with new client acquisitions in targeted, emerging markets, including China, Brazil and Eastern Europe.
The post financial crisis has increased pressures on buy-side firms to support increased trade volumes, new global regulations, and controls around sophisticated fixed income and derivatives instruments – while reducing operating costs and risks. To help clients address these challenges and grow their business, Version 9.1’s open, standards-based service oriented architecture (SOA) is highly-compatible, scalable and easy to maintain. Version 9.1 offers full order and execution management capabilities and performance measurement, attribution and performance risk analysis on a single, consolidated platform – streamlining workflows and significantly lowering a client’s total cost of ownership.
“In 2010, we continued our growth in emerging markets with the addition of customers such as China Asset Management Company, China’s largest fund manager;KD Funds Asset Management, one of the leading asset managers in Central and Eastern Europe; and Banco General SA, the largest private banking institution in Panama,” said Peter Lambertus, president and chief executive officer. “The key factor in winning these deals was our proven experience in helping clients expand global operations while supporting their unique local requirements and workflows, including country-specific investment regulations and local corporate/government fixed income instruments.”
2010 highlights include:
• Added 26 new clients and 13 divisions/subsidiaries of existing clients worldwide.
• Completed 30 client implementations that went live.
• Brought 20 clients live on Version 9.1, with more than 50 implementing/upgrading.
• Expanded Charles River’s Hosting/Application Management solutions to over 45 clients.
• Expanded local presence in São Paulo, Brazil; Beijing, China; and Tokyo, Japan.
• Introduced the Charles River Data Service – now in beta, this service provides a single, fully-managed data source for clients.
• Rolled-out Premier Client Services, helping dozens of clients evaluate current system usage, identify gaps and apply best practices.
• Expanded the Charles River FIX Network to more than 150 buy-side firms, over 500 global broker-dealers and nearly 5,000 live broker/client connections.
• Received “Best Buy-Side OMS” from Buy-Side Technology; “Best Buy-Side Technology Firm” from Asia Asset Management Best of the Best Awards 2009; and a ranking in the "FinTech 100" American Banker/Financial Insights 2010.
About Charles River Development
Charles River Development is a front- and middle-office software solutions provider serving over 300 clients in more than 35 countries representing the institutional asset and fund management, wealth management/trust, alternative, insurance, pension fund and fund administration/custody markets. 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.
The Charles River Investment Management System (Charles River IMS) is a multi-asset, multi-currency software solution that provides complete straight-through processing on a single, consolidated platform. Offered individually or part of a tightly-integrated suite, Charles River IMS’ modules automate decision support, portfolio management, compliance, order and execution management, post-trade processing, and performance measurement, attribution, and performance risk. Charles River IMS is fully integrated with the broker-neutral Charles River FIX Network. Charles River also offers comprehensive FIX network and implementation services, as well as hosting and application management solutions.