Burlington, MA and London - April 12, 2006 — Markit Group Limited (Markit), the leading industry source of independent pricing, reference data and valuations for the global financial and commodities markets, and Charles River Development (Charles River), a leading provider of front- and middle-office fixed income systems to the global investment management community, today announced an agreement to integrate Markit’s credit pricing and reference entity data into the Charles River Investment Management System (Charles River IMS). The depth of integration will be such that Markit’s data will be consistently mapped and readily accessible throughout Charles River IMS for mutual customers. Investment managers will, for the first time, benefit from a completely integrated credit derivative workflow within their order management system resulting in increased accuracy, efficiency and standardization of derivative trading with counterparties. The XML data feed, available in Version 8 of Charles River IMS, will initially include data such as Markit REDTM, iTraxx and Dow Jones CDX constituent data, credit curves and reference entity information.
“BlueBay focuses on alternative and fixed income credit funds and we are pleased with Charles River IMS’s current and planned support for the trading, portfolio modelling and compliance monitoring of complex security types such as credit derivatives,” said Simon Lumsdon, head of IT, BlueBay Asset Management. “The integration of the full suite of Markit data into Charles River IMS will extend our ability to execute credit derivative trading workflows efficiently. The use of the industry accepted RED code, entity name, reference obligation and credit index data will allow for standardised trading with our counterparties as well as improve our post-trade workflow by enabling electronic matching through DTCC Deriv/SERV. The partnership truly leverages the breadth of Markit’s credit derivatives data with Charles River’s comprehensive OMS workflows.”
Markit REDTM (Reference Entity Data) is the industry standard for reference entity and reference obligation identifiers used throughout the credit default swap (CDS) markets, including on-line trading, standard documentation and trade settlement.
Charles River IMS, the market-leading front- and middle-office software suite for all security types, includes four components: Charles River Manager for portfolio management and modelling, Charles River Trader for order management and electronic trading, Charles River Compliance for real-time pre-trade and end-of-day compliance and Charles River Post-Trade for centralised management of trade matching, confirmation and settlement workflow. The system incorporates real-time FIX trading via the Charles River Network, a reliable, secure, private financial network.
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