Russell moves Upstream via Lava-hosted ASP

Russell moves Upstream via Lava-hosted ASP

Russell Investment Group is to implement Upstream's Investment Management System (IMS) as a hosted ASP service from Lava Trading.

Upstream IMS is designed to automate an investment manager's work-flow while integrating into any portfolio accounting or trading system. The software supports the management of multiple investment products, including Multi-Style Portfolios (MSPs), and a broad spectrum of financial instruments including domestic and international equities, fixed income instruments, exchange traded funds, American Depositary Receipts, cash, and mutual funds.

Paul Reynolds, managing director, Russell Investment Group, says the firm evaluated all of the vendors in this space before making a decision. "Upstream is highly customisable and intuitive and provides us with the tools we need today, as well as those we are planning to use," he says.

Upstream Technologies, was founded in 1999 by industry veterans Evan Schulman and Mark Hoffman, the team behind the Lattice ATS that was bought by State Street in 1996. New York-based dealing technology vendor Lava Trading took a stake in the firm in April last year.

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