Charles River clients who use Tradeweb to execute OTC derivatives trades can now automatically capture trade details within the Charles River Investment Management System (Charles River IMS). This integration also supports allocation processing for OTC derivatives.

Charles River and Tradeweb already have significant integration points across the trade lifecycle for fixed income securities. This roll-out will initially incorporate interest rate swaps (denominated in U.S. Dollar, Euro, and Sterling) and credit default swaps (CDX, iTraxx, single names, and tranches) and will support the following workflows:

• Electronic capture of trades executed on Tradeweb, including prime broker give-up trades
• Electronic capture of trades executed over the phone
• Allocations electronically fed into dealers' risk systems via Tradeweb's STP network
• Interest rate swap allocations (tickets) fed directly into Markit Wire or DTCC's Deriv/SERV via Tradeweb for legal confirmation
• Credit default swap allocations (tickets) fed directly into DTCC's Deriv/SERV via Tradeweb for legal confirmation

The enhanced support for OTC derivatives will be available to users of Charles River IMS Version 8.2, Charles River's most recent software release. Version 8.2 supports OTC credit, rate and equity derivatives in the form of: credit default swaps on single names, indices and tranches; interest rate swaps, including cross currency, basis, constant maturity, and overnight index; and total return swaps on both fixed income and equity securities, including indices. In addition, a new Direct Dealer Inventory feed in Version 8.2 enables buy-side traders to establish electronic point-to-point broker connections and receive available fixed income inventory directly into Charles River IMS -- electronically matching orders and helping traders successfully execute on inventory opportunities.

"The launch of this joint solution couldn't have come at a better time," said Tom Eady, Managing Director and Global Head of Tradeweb's STP business. "The industry is under tremendous pressure to automate the trading and processing of OTC derivatives. Tradeweb and Charles River are making it possible for the industry to meet its goals for achieving seamless, front-to-back electronic processing of OTC derivatives."

"As trading volumes, and the resulting drive for efficiency increase, we anticipate continued innovation and centralization of OTC derivatives processing," said Tom Driscoll, Vice President, Sales and Marketing, Charles River Development. "We have already partnered successfully with Tradeweb in the fixed income arena and it made sense to offer our clients enhanced derivatives capabilities. Our latest release now provides clients with the enhanced trading and processing capabilities they need to handle any derivatives structure or workflow."