US-based GoldenTree Asset Management has implemented version 7.1 of the Charles River Compliance system to conduct daily compliance monitoring of securities transactions.
The package, a component of the vendor's Investment Management System (IMS), was interfaced to GoldenTree's inhouse portfolio accounting system VPM during a four-month implementation programme and configured to take data imports from multiple high yield indices to facilitate benchmark performance comparisons. The vendor constructed over 90 custom compliance rules for the system, while GoldenTree built another 20.
GoldenTree is currently integrating the compliance application with its internal trading and portfolio management system and plans to implement pre-trade compliance monitoring by year end.
Todd Neufeld, director of operations at GoldenTree says the firm selected Charles River Compliance due to the open nature of the architecture and breadth of rule coverage: "Our internal technology staff was able to easily leverage the open aspect of the application to fully integrate compliance monitoring with the rest of our investment management process."