BURLINGTON, MA, LONDON and MELBOURNE, June 20, 2005 â Charles River Development, a market leading provider of global investment management software and services, today announced that it has expanded Charles River Investment Management System (Charles River IMS) connectivity offerings with 10 new embedded interfaces to equity algorithmic trading brokers, bringing the total number to 14. The recently added algorithmic broker interfaces include CIBC World Markets, Direct Trading Institutional Inc., Goldman Sachs, Instinet Global Algorithmic Trading, Investment Technology Group, Inc., Lehman Brothers Inc., Merrill Lynch, Sanford C. Bernstein & Co., LLC, Susquehanna Financial Group, LLLP, and UBS Investment Bank. As a result, Charles River has centralized tradersâ execution tools onto one platform, providing them with hands-on control and direction over trade execution strategies.
Charles River IMS is a comprehensive software suite for portfolio management (Charles River Manager), order management and electronic trading (Charles River Trader), and real-time compliance monitoring (Charles River Compliance). Portfolio managers and traders utilizing Charles River IMS can run a potential trade through pre-trade compliance in Charles River Compliance, apply a particular algorithmic strategy directly from the Charles River Trader blotter, set specific trade parameters, and electronically route the order via FIX to the selected broker venues. Fills then flow back into Charles River IMS. The process is automatic and seamless with no double entry or switching between software systems required.
"Our clients demand high quality and extremely effective algorithmic trading offerings, providing traders with increased control over the market impact upon trade execution. In addition, through automation, traders are able to execute an increased number of trades, and by applying specific parameters they can easily achieve a variety of trading objectives," said Peter Lambertus, president and CEO of Charles River Development. "Adding these proven broker algorithmic interfaces exemplifies our commitment to provide clients with a wide variety of value-added broker-supplied tools including advanced execution methods, pre-trade analytics, and centralized access to major liquidity sources."
These new algorithmic interfaces are currently available in Charles River IMS Version 7.2 or higher.