Charles River Development (Charles River), a front- and middle-office investment solutions provider, today announced the availability of the Charles River Data Service, a new offering that delivers validated security reference, issuer, benchmark/index and pricing data aggregated from various leading providers directly into the Charles River Investment Management System (Charles River IMS).
Live with its first few clients, the Charles River Data Service is offered as a core component of Charles River's Software as a Service (SaaS) solution that helps buy-side firms lower the overall cost of managing data, while ensuring that data is timely and accurate. Speaking at the firm's 2011 Client Conference this week in Miami, Charles River experts identified data as one of the top challenges with most front-office systems.
"Increased regulations and customer demands for greater transparency of investment decisions has made it critical for buy-side firms to ensure the accuracy of their data," said Brad Haigis, director, Data Services, Charles River Development. "As the volume of data and number of data feeds surge, concerns over data costs, complexity and errors also grow. If data is not fed properly into a system, or mis-mapped, there can be severe repercussions in user satisfaction, productivity and accuracy. The Charles River Data Service alleviates the data management burden and eliminates these issues by aggregating data, valid ating it and delivering it 'hand-in-glove' into Charles River IMS through direct feeds from data sources."
The Charles River Data Service:
• Incorporates predefined mappings that reduce integration costs and increase accuracy.
• Offers reference, issuer, and end-of-day pricing/evaluation data for batch and new security setups across a broad set of equity and fixed income instruments.
• Delivers real-time quotes, available for domestic and international equities, options and futures.
• Provides data validation, auditing and support for new security setup.
• Includes continuous monitoring and management of data feeds, high availability, and full disaster recovery with 24x7x365 support.
The Charles River Data Service is part of the firm's integrated Managed Services solution that includes Application Management, Hosted Application Management, FIX Administration, and connectivity to certified broker-dealers and trading venues. Many new clients select Charles River's comprehensive SaaS offering that combines hosting and application management with the Charles River Data Service.