Charles River Development (Charles River), a front- and middle-office investment software solutions provider, today announced the expansion of its regional presence in São Paulo, Brazil.
Local, multi-lingual Charles River employees provide professional implementation, consulting and support services for regional clients and prospects.
Charles River now serves 13 clients across Brazil, Chile, Mexico and Panama. These include three of Brazil's top 10 asset managers and the country's leading fund administrator, as well as global investment firms establishing their footprint in the region.
"Our expanding client base reflects Latin America's changing regulatory climate," said Manuel Astiasaran, Director, Operations, Latin America, Charles River Development. "Heavy regulation limiting investment to domestic securities has been relaxed, such as the 2009 regulation from Brazil's Commissão de Valores Mobiliários, making way for international investments. This has increased buy-side demand for front- to middle-office systems that automate domestic and international investment operations."
Available with Portuguese and Spanish language capability, the Charles River Investment Management System (Charles River IMS) helps Latin American clients to expand their operations into new asset classes and markets. Charles River IMS supports region-specific security types and associated workflows, including Mexican corporate and government bonds, as well as Brazil's CDI-linked debentures and complex inflation-linked government notes.
Charles River IMS' pre-built compliance libraries contain over 1,700 regulatory and general example rules across 35 regulatory bodies of 20 countries, including comprehensive rule libraries for Mexico, Brazil and Chile.
Given the changing regulatory environment, Latin American firms are seeking out international liquidity, competitive market quotes and best execution, resulting in growing demand for global real-time electronic trading via FIX (Financial Information eXchange). Charles River IMS is fully integrated with the broker-neutral Charles River Network, which includes over 120 buy-side firms, 440 broker-dealers, and has 3,700 live broker/client FIX connections. Charles River's new internet-based Virtual Private Network capability offers secure, low-cost FIX connectivity for smaller or remote firms, or a temporary solution during extended telecommunications installations.