River Development (Charles River) and Princeton Financial Systems (PFS) today announced the availability of a new web services-based integration between the Charles River Investment Management System (Charles River IMS) and the Princeton Financial Services accounting system (PAM). The integration of the two systems results in the seamless flow of real-time data and enables the buy side to simplify and reduce the total cost of post-trade operations in the middle- and back-office.
"This real-time interface makes daily operations remarkably efficient while supporting a variety of asset classes, including derivatives, and providing advanced, real-time processing for position updates, intraday cash flows, cancel & replace orders, intraday corporate actions and synchronized trade updates," said Brian Buchinski, Managing Director, Product Management, PFS. "Our certified integration partnership with Charles River further strengthens our accounting offering for asset managers."
"We’ve already presented the interface to a handful of clients who were very excited to have a mutually maintained interface that synchronizes order management and accounting in real time, using web services technologies," commented Rajeev Kotyan, Product Manager, Charles River.
Charles River is the leading provider of front- and middle-office systems to the global investment management community. Charles River IMS provides complete trade cycle support for all security types including tools for portfolio management, order management, trade execution, compliance monitoring and trade settlement. The system incorporates global real-time electronic trading via FIX through the Charles River Network, a reliable, secure, private financial network.
In addition to real-time integration between systems, both PFS and Charles River offer outsourcing options. PFS’ ePAM hosting service offers a completely secure and robust platform for accounting customers looking to outsource. Charles River provides complete hosting or outsourced administration and management of Charles River IMS software through comprehensive and flexible Managed Services.