Charles River Development Expands Regional Presence in São Paulo
Operations and support hub offers on-the-ground local services to Latin American investment managers
Boston, Beijing, London, Melbourne, New York, Paris, Singapore and Tokyo – April 6, 2010 – 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.
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 35 countries. The Charles River Investment Management System (Charles River IMS) is an institutional-class multi-asset, multi-currency software suite that consists of five main modules: Charles River Manager for 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.
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.
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). Charles River also offers comprehensive FIX network and implementation services, as well as application management and hosting solutions.
Founded in 1984, Charles River maintains headquarters in Boston and primary offices in Beijing, London, Melbourne, New York, Paris, Singapore and Tokyo and has a local presence in every other major financial center of the world.
Charles River is the recipient of numerous recent industry awards including: Best Buy-Side Order Management System and Best Integrated Front-Office Platform, Buy-Side Technology 2009 Awards; Best Buy Side Technology Firm, Asia Asset Management Best of the Best Awards 2009; Best Risk Management System, AsianInvestor 2009 Service Provider Awards; and FinTech Top 100, American Banker/Financial Insights 2009.
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