Charles River Development (Charles River), a front- and middle-office software solutions provider for investment firms, today announced the release of Version 9.1 of the Charles River Investment Management System (Charles River IMS).
This production release, which completes Charles River's transition to a service-oriented architecture (SOA), fully integrates order and execution management capabilities (OEMS) in a single platform. Version 9.1 supports high-volume wealth management accounts, and introduces a new module for performance measurement, attribution, and performance risk analysis (PMAR). The system's real-time, event-driven trader blotter and new user interface streamline application workflows and improve the user experience.
According to President and CEO Peter Lambertus, more than 25 clients participated in the beta program and validated that Version 9.1 delivers critical functionality such as execution management, increased support for wealth management, fixed income and derivatives instruments and analytics. "Version 9.1 is the only single, consolidated platform that provides complete order and execution management and PMAR. Our first client is already live on Version 9.1, leveraging the system's wealth management capabilities as well as Charles River Anywhere's remote order routing functionality."
Advanced wealth management capabilities support large volumes of complex managed account products, including SMAs, UMAs, UMHs, and discretionary managed portfolios. Portfolio managers and financial advisors can construct and rebalance portfolios and ensure tax optimization across single accounts, multi-sleeve accounts and households. The Charles River Anywhere Web-based workstation provides tools for remote account and position monitoring, order generation, trading and report viewing.
Version 9.1's integrated advanced execution management functionality delivers improved workflow and audit controls compared to third-party execution management system alternatives. From a single desktop, users can access: algorithmic and program trading; real-time data; watch lists and integrated news; integrated pre- and post-trade transaction cost analysis; trade analytics; direct market access; automated smart order routing; and extensive customization options.
Available as a stand-alone module or as part of the Charles River IMS suite, Charles River Performance enables users to calculate, analyze and report on multi-asset and multi currency performance measurement, equity and fixed income attribution, and a variety of performance risk measures - across portfolios, indexes, benchmarks and GIPS (Global Investment Performance Standards) composites.
Other key Version 9.1 enhancements include: new and expanded support for IRS/CDS Swaptions, CDS/TRS Baskets and other derivatives; advanced trading analytics for real-time implementation shortfall monitoring; enhanced futures roll capabilities; new support for volatility surfaces and enhanced swap curve construction features; FX pair-based internal crossing; as well as new functionality for reviewing compliance 'as of' any historical date.