Greystone Managed Investments Implements Charles River IMS. - Canadian-based Investment Manager Taps Charles River’s New Technology to Support Growth; Web Reporting Tools and Accounting Systems Interface Improve Efficiencies –

BURLINGTON, MA – May 17, 2004 — Charles River Development, a leading provider of financial software and consulting services to the global investment management community, today announced Greystone Managed Investments Inc., one of Canada’s largest money managers, began using Version 7.2 of the Charles River Investment Management System (Charles River IMS) on May 11th to support its fixed income (including money market), Canadian equities and U.S. equities asset management operations. Greystone is the 10th Canadian-based investment management firm to adopt Charles River's IMS.

Founded in 1988 and majority-owned by its employees, Greystone manages more than CDN $19.2 billion in assets for corporate and public pension funds, educational institutions, foundations, trusts and charities, religious orders, trade unions, hospitals and cultural organizations.

Charles River IMS, a comprehensive software suite for portfolio management (Charles River Manager), order management and trading (Charles River Trader), and real-time securities compliance monitoring (Charles River Compliance), has replaced Greystone’s existing portfolio management system. In addition, Charles River IMS has provided an electronic interface to the firm’s portfolio accounting systems and improved the firm’s automated pre-trade and portfolio-level compliance capabilities.

"The investment industry is rapidly moving to an environment of faster trade execution, same-day settlements and more-detailed compliance requirements," said Elaine Bourassa, Chief Financial Officer at Greystone Managed Investments. "Charles River’s Web reporting tools, comprehensive fixed income support, and portfolio management capabilities put us ahead of the curve in Canada. After reviewing other vendors, we concluded Charles River IMS met our needs and, by eliminating bottlenecks, will substantially improve our compliance operations, streamline our trade and settlement processes, and support our continuing rapid business expansion."

Charles River IMS v7.2 is the second deliverable in Charles River's next-generation technology strategy to offer its market-leading investment management suite on an open, platform-independent, services-based architecture that is able to scale and transform in conjunction with an investment manager's evolving business model. Charles River’s new technology strategy introduces a Java-based Compliance engine, Web-based reporting tools, an XML/XSL Trade Gateway, and additional Messaging and Web Services APIs for systems integration. In addition, Charles River’s new technology incorporates numerous functionality upgrades including enhanced portfolio modeling capabilities, Mortgage trading and TBA processing functionality (including EPN connectivity), FIX-based algorithmic trading, FIX-based fixed income allocations, and support for ISO15022 standards.

Become a bobsguide member to access the following

1. Unrestricted access to bobsguide
2. Send a proposal request
3. Insights delivered daily to your inbox
4. Career development