âBefore we were on Charles River IMS we struggled to handle even small trading volumes,â said Reinhardt Damm, Head of Buy Side Execution Desk, Metzler. âOur traders spent a lot of time on the phone with brokers allocating trades or correcting discrepancies in information. Charles River gives us the scalability to grow our business and we have increased our trade volumes three times with the same number of traders. Equally important, our custodians now receive trades within an hour of execution and we book 95% of our trades on T+1.â
Charles River IMS also enables Metzler to support instruments such as swaps and expand its Master KAG business which serves institutional asset managers in the overall administration of funds. Following implementation of Charles River IMS this business has grown substantially to EUR20billion.
âWe required a flexible system to handle the increasingly complex instruments we are trading,â commented Thorsten KÃ¶ble, Prokurist/Senior Business Analyst, Metzler. âCharles River IMS has an easily configurable, Web-based architecture and tight integration with external trading venues and vendors. This gives us high levels of straight-through processing and more transparency which impresses prospective clients.â
According to Jon Steward, Managing Director, EMEA, Charles River, Metzler also benefits from the Charles River Network for real-time electronic trading via FIX. âThe Charles River Network is fully integrated with Charles River IMS giving Metzler a centralized and consistent platform for connecting to brokers of their choice,â said Steward.