Charles River, an enterprise-wide, front- and middle-office investment management solution provider, today unveiled a new strategic Investment Book of Record (IBOR) offering that integrates real-time positions, corporate actions, and reconciliation from back-office systems, fund administrators and custodians with front-office activities to improve timeliness and integrity of data for portfolio managers and traders. The IBOR solution will be available for general release in the Version 9.2 series of the Charles River Investment Management Solution (Charles River IMS), following completion of beta testing with global client partners.
“Institutional and wealth managers alike are looking for greater accuracy and transparency throughout the trading day,” said Tom Driscoll, Global Managing Director, Charles River. “Our fully-integrated IBOR helps clients make better investment management decisions by making sure positions are as up-to-date as possible. By eliminating dependency on back-office systems and consolidating multiple sources of position-related data onto one platform, clients can reduce costs, streamline operations, and improve recordkeeping.”
Charles River’s IBOR is a multi-asset, multi-currency solution that combines trade and non-trade transactions for accurate management of current/historical positions and tax lots. The IBOR solution can distribute position keeping data to other systems, including those for performance and risk. Corporate action processing, and the ability to schedule cash flow and security lifecycle events, ensure accuracy of overnight position maintenance. In addition, a rules-based reconciliation engine with an exception management dashboard delivers an audit history of transactions and positions.
Highly-flexible and self-sufficient, Charles River’s IBOR solution is designed for institutions that rely on feeds from custodians and prime brokers, or that wish to address the challenges of sourcing accurate trade-date positions by separating investment management functions from the back-office. Wealth managers can also benefit by consolidating positions from multiple accounting platforms, and overcoming the deficiencies of legacy systems in supporting newer multi-strategy products, such as unified managed accounts (UMA).