Charles River Development (Charles River), an award-winning provider of financial software and services to the global investment management community, has achieved record results for the Charles River Network, its proven financial network for global real-time electronic trading via FIX (Financial Information eXchange). The Charles River Network is fully integrated with the broker-neutral Charles River Investment Management System (Charles River IMS) and ensures quick and reliable direct-connect access between buy-side clients and sell-side brokers. Launched in July 2005, the Charles River Network includes over 80 Charles River IMS clients, 300 tested and certified brokers and over 1,500 live multiple-site broker-client connections. The network is adding 100 Charles River broker connections each month.
“Charles River supported FIX connectivity for many years prior to launching the Charles River Network,” said Tom Driscoll, Managing Director-Global, Charles River Development. “Its rapid growth reflects our clients’ increased demand for an integrated trading system and FIX network. FIX is becoming increasingly more complex and we simplify that for our clients. Our point-to-point architecture makes it easy for clients to utilize new FIX capabilities and supports multiple asset classes, including algorithmic trading, FIX allocations, fixed income, futures, options and FX. Our network allows our buy-side clients to access diverse pools of liquidity and more easily access a broad range of their broker’s execution services at a lower cost.”
The full integration of Charles River’s trading system and FIX network ensures seamless operation, eliminates the need for multiple systems, and provides quick ‘one-stop support’ for all investment management and FIX-related issues. More than 90% of new Charles River clients use the Charles River Network for electronic trading. Over 75% also select Charles River’s comprehensive remote FIX administration services that provide continuous trade support, network and software management, and broker testing, certification, configuration and monitoring – that ensure high ROI by eliminating the need for internal FIX specialists.
The Charles River Network is based on the BT Radianz global financial extranet, leverages the CameronFIX engine, and supports electronic trading via FIX for all asset classes. It offers connections with hundreds of broker-dealer destinations, 250 algorithmic strategies from 30+ algorithmic brokers, foreign exchange banks and crossing networks.