Charles River Development Achieves 9th Consecutive Year of Revenue Growth
Results reflect continued global expansion and long-term investments in products and services
Boston, Beijing, London, Melbourne, New York, Paris, Singapore and Tokyo — February 4, 2010 — Charles River Development (Charles River), a front- and middle-office software solutions provider for investment firms, today announced that 2009 was the firm’s ninth consecutive year of revenue growth.
“This result reflects our substantial R&D investment and commitment to serving clients with local resources around the globe,” said Peter Lambertus, President and Chief Executive Officer, Charles River Development. “For example, our latest production release, the Charles River Investment Management System (Charles River IMS) Version 9.1, is the only single, consolidated platform with full order and execution management capabilities and performance measurement, attribution and performance risk analysis.”
Version 9.1 also delivers enhanced capabilities for improved fixed income workflows and curve construction, high-volume wealth management accounts and trade allocations, foreign exchange trading, and derivative instruments such as swaptions. Enhanced interfaces with major data providers reduce costs and simplify workflows by supporting real-time Level I and Level II market data, reference data, and contributed and evaluated pricing directly within Charles River IMS.
Broadening its global footprint, Charles River opened a new office in Beijing and expanded its offices in Tokyo and New York City. The firm added 24 new clients worldwide and 10 divisions/subsidiaries of existing clients, including firms in fast-growing markets such as China, Eastern Europe, Latin America and South Africa. Additionally, 30 clients went live on Charles River IMS, including: Nomura Asset Management, Japan’s largest asset management firm; Metzler Asset Management, a core business of Germany’s oldest private bank; and Waddell & Reed Investment Management Company, one of the oldest mutual fund groups in the United States.
Charles River also introduced Premier Client Services which helps clients maximize their Charles River IMS investment by identifying gaps and applying best practices for business needs and current system use. In addition, nearly 30 clients now use Charles River’s Application Management and Hosting solutions to lower costs and reduce or eliminate the need for full-time, in-house application experts.
Supporting increased global demand for real-time electronic trading via FIX, the Charles River Network now serves over 120 buy-side firms, 440 broker-dealers, and has 3,700 live broker/client connections. New internet-based Virtual Private Network (VPN) capability offers secure, low-cost FIX connectivity for smaller or remote firms or as a temporary solution during extended telcom installations.
Charles River IMS continued to receive industry recognition in 2009, including: its third consecutive award for “Best Integrated Front-Office Platform” and “Best Buy-Side OMS” from Buy-Side Technology; “Best Risk Management System,” AsianInvestor 2009 Service Provider Awards; and “FinTech Top 100,” American Banker/Financial Insights 2009.
About Charles River Development
Charles River Development is a front- and middle-office software solutions provider to more than 300 investment firms in the institutional, wealth management/trust, alternative, mutual fund, insurance, pension fund and fund administration/custody markets in over 30 countries. The Charles River Investment Management System is a multi-asset, multi-currency software suite that consists of five main modules: Charles River Manager for decision support, portfolio management and modeling; Charles River Compliance for real-time pre-trade, in-trade, post-execution and end-of-day compliance monitoring; Charles River Trader for order management, electronic trading and execution management; Charles River Post-Trade for the centralized management of trade matching, confirmation, and settlement workflow; and Charles River Performance for daily performance measurement, attribution, and performance risk.
The system is fully integrated with the Charles River Network, a broker-neutral, financial network that incorporates global real-time electronic trading via FIX (Financial Information eXchange). The company also offers FIX network and implementation services, as well as application management and hosting solutions.
Charles River IMS features a modern, proven, N-Tier service oriented architecture (SOA) that is highly scalable and supports continuous 24x7 operations. Message-based APIs and exposed Web Services facilitate rapid systems integration.
Founded in 1984, Charles River maintains headquarters in Boston, primary offices in Beijing, London, Melbourne, New York, Paris, Singapore and Tokyo, and has a local presence and sales and service partners in all other major financial centers of the world.
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