Charles River reports 2008 revenue growth

Source: Charles River Development

Charles River Development (Charles River), an award-winning provider of financial software and services to the global investment management community, today announced that 2008 was the firm's eighth consecutive year of revenue growth.

These results reflect Charles River's consistent focus on meeting market demands through substantial R&D investment in the Charles River Investment Management System (Charles River IMS) - its multi-currency, multi-asset class front- and middle-office software suite.

"Now more than ever, investment managers need to leverage technology and services to 'do more with less,'" said Peter Lambertus, President and Chief Executive Officer, Charles River Development. "As a privately-held company, we have continually made long-term investments in products and services that add value for our clients. For example, this year, we delivered new and enhanced functionality for managing and trading complex instruments, handling increased trade volumes and complying with new global and local regulatory requirements."

Broadening its global footprint, Charles River added 42 new clients in 2008 - for a total of 312 buy-side firms worldwide - including leading government agencies and investment management firms in fast-growing markets such as Brazil, China, Korea, Malaysia, and South Africa. In addition, as market conditions force buy-side firms to scrutinize budgets and optimize operations, over two dozen client firms - including 9 new clients - now leverage Charles River's Application Management solutions to benefit from Charles River IMS at a lower cost of ownership.

2008 highlights include:

  • Completed 38 client implementations that went live.
  • Added 15 major expansions of new divisions/groups with existing clients.
  • Released Charles River IMS Version 8.2 with: enhanced support for derivatives and fixed income instruments, integrated real-time market data, enhanced TCA capabilities, expanded execution management functionality, and more.
  • Created interfaces with leading providers, including: Aqua, BIDS, Bloomberg, CIBC World Markets, Instinet, Omgeo and Tradeweb.
  • Expanded the Charles River FIX Network to over 400 certified brokers and more than 3,200 broker-client connections.
  • Opened new, state-of-the art training facilities in Boston and London.
  • Expanded EMEA headquarters in London.

Comments: (0)