News
The Bulletin Board below contains recent press releases issued by Charles River Development as well as news items and articles written by, or about Charles River Development. Click here for Bulletin Board Help
For Media Inquiries please contact Marta von Loewenfeldt, Manager, Public Relations at +1 781 425 3032 or e-mail MartavonLoewenfeldt@crd.com
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Waddell & Reed Live on Charles River IMS
Excerpt from Wall Street & Technology highlighting Waddell & Reed’s successful phase one implementation of Charles River IMS, Charles River FIX Network, and Application Management Solution.
Waddell & Reed Investment Management Company and its affiliates, which combined have $47.6 billion in assets under management, are live on the Charles River Investment Management System (Charles River IMS) and Charles River’s Application Management solution. Over 60 Waddell & Reed users now benefit from enhanced decision support, streamlined trade order management, and real-time, pre-trade compliance monitoring on a single integrated platform.
Waddell & Reed also leverages the broker-neutral Charles River Network and FIX Administration for real-time global electronic trading via FIX. Waddell & Reed has seamless access to 50 of its preferred broker-dealer destinations via the network, and plans to increase connectivity to 100 sell-side providers in the near future.
“As a fundamental investment management firm, we are continually focused on achieving long-term success,” said Larry Cipolla, Senior Vice President and Chief Operations Officer for Waddell & Reed Investment Management Company and Ivy Investment Management Company. “Charles River allows our investment professionals to easily trade and monitor any security in real time – with greater confidence. Charles River’s services also provide day-to-day system monitoring, rendering ‘real’ savings over the cost of a full-time internal IT resource.”
Phase One, delivered on-time and on-budget, is the initial stage of a three-phase project which is part of Waddell & Reed’s initiative to implement a centralized system to streamline workflows and gain significant efficiencies in portfolio management, trading and compliance monitoring.
The implementation completes the Phase One rollout of Charles River IMS across Waddell & Reed’s four equity desks, including domestic and international securities, derivatives and foreign exchange (FX). During the next phase, Waddell & Reed will implement Charles River IMS across its money market desk, while Phase Three will focus on its fixed income operations.
Waddell & Reed is using Charles River’s Application Management outsourced solution for 24x7 application management and support, including alert notification, performance monitoring and tuning and user administration
The Charles River Network, which is fully integrated with Charles River IMS, directly connects Waddell & Reed’s traders to its sell-side brokers and other global trading venues – allowing them to handle larger trade volumes, gain new FIX capabilities across multiple asset classes and access algorithmic strategies of their choice and new liquidity destinations. Waddell & Reed subscribes to Charles River’s FIX Administration for proactive administration, monitoring and support of FIX software and connectivity.
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