Burlington, MA, London, Melbourne and Singapore – January 30, 2006 — Charles River Development, a leading provider of financial software and services to the global investment management community, today announced that Daiwa SB Investments Ltd. (Daiwa), a leading Japanese asset management company, has selected the Charles River Investment Management System (Charles River IMS) to monitor more than USD $31 billion in assets under management. Charles River IMS is a comprehensive front- and middle-office software suite for portfolio management and modelling (Charles River Manager), order management and electronic trading (Charles River Trader), real-time compliance monitoring (Charles River Compliance), and the centralised management of trade matching, confirmation, and settlement workflow (Charles River Post-Trade).
Daiwa’s decision to replace various existing local vendors and upgrade to Charles River IMS was largely due to the firm’s need to consolidate and streamline its fund management operations onto one integrated platform. “We found Charles River IMS is the most compatible fit and ideal system to automate our global and Japanese investment operations,” said Mr. Suichi Komori, president and CEO of Daiwa. “We were particularly impressed with Charles River Compliance which enables us to apply compliance rules precisely for each fund. We can, therefore, more easily adhere to the broker trading restrictions unique to Japan.”
Mr. Komori continued: “The system covers all investment classes, not only equities or fixed income, and this means that all compliance can now be executed in one front office system. We also have direct access to support from Charles River’s Melbourne, Singapore in addition to Tokyo staff, and once the implementation is complete, we will have one integrated system that fully streamlines our investment operations workflow.”
Cameron Field, managing director, Asia Pacific stated: “The decision for Daiwa to implement Charles River IMS clearly reflects further acceptance of the product in the Asia Pacific region. We feel that our product provides asset managers in this region with significant capabilities beyond what has previously been available and we are happy to see them take advantage of it. What’s more, through collaboration with our Tokyo-based Sales and Service Partner, Nissay Information Technology Co., Ltd., we are able to ensure that we are exceeding the functionality and service needs of Japanese asset managers, in particular.” One hundred and ninety clients worldwide use Charles River IMS, including over 30 fund managers across Asia Pacific in locations such as Australia, Tokyo, Singapore, Thailand, Taiwan, Malaysia, and New Zealand.
Charles River is the recipient of numerous industry awards including Best Buy Side OMS / Waters Reader Rankings 2005, Best Portfolio Management System / Waters Reader Rankings 2005, Top Compliance System 2005 / Global Investor, Best Buy Side OMS / Waters Reader Rankings 2004, Best Buy Side OMS / Waters Awards 2004, Top OMS System 2004 / Global Investor and Vendor of the Year 2004 / Operations Management newsletter.