CREDIT SUISSE FIRST BOSTON AND CHARLES RIVER ALIGN TO OFFER CLIENTS ALGORITHMIC TRADING SERVICES
BURLINGTON, MA and NEW YORK, NY, April 12, 2004 - Credit Suisse First Boston (CSFB) and Charles River Development, a leading provider of financial software and consulting services to the global investment management community, today announced a partnership that will give joint clients direct access to CSFB Advanced Execution Services (AES) from the Charles River Investment Management System (Charles River IMS).
AES provides investment managers with the ability to efficiently execute trades using the same suite of automated, algorithmic trading strategies employed and developed by CSFB's team of quantitative analysts and traders. Developed through comprehensive execution research and continuous live experimentation by CSFB's aforementioned team, the strategies are currently in use by over 250 CSFB clients. Today's partnership will give investment managers the ability to place and execute trades using CSFB AES via FIX directly from Charles River IMS. Traders who take advantage of the strategies can reduce market impact and improve trading performance vs. benchmarks in North American, European, and Asian markets.
Charles River IMS is a comprehensive, integrated, front and middle office software suite for portfolio management, electronic trading and order management, and real-time securities compliance monitoring. "Charles River IMS is in use at several of our most valued clients," said Manny Santayana, director, AES Sales for the Americas at CSFB. "We are looking forward to deploying our market leading algorithms to these customers globally, in conjunction with Charles River," he said.
"Credit Suisse First Boston's sophisticated trading algorithms have proven to be an extremely successful execution tool for CSFB's traders and promise to be equally as effective for our clients," said Peter K. Lambertus, CEO and president at Charles River Development. "Our clients expect superior functionality, powerful features, and unmatched performance from Charles River IMS, and we are committed to meeting those expectations by continuing to add innovative capabilities that facilitate order efficiency and increase productivity."
Access to CSFB Advanced Execution Services (AES) is available in the recently released Version 7.2 of Charles River IMS at no additional charge to clients. Charles River IMS v7.2 is the second deliverable in Charles River's next-generation technology strategy to offer its market-leading investment management suite on an open, platform-independent, services-based architecture that is able to scale and transform in conjunction with an investment manager's evolving business model. Version 7.2 delivers a new Java-based Compliance engine, Web-based reporting tools, an XML/XSL Trade Gateway, and additional Messaging and Web Services APIs for systems integration. In addition to rules-based trading capabilities, Charles River IMS v7.2 incorporates numerous functionality upgrades including enhanced portfolio modeling capabilities, Mortgage trading and TBA processing functionality (including EPN connectivity), FIX-based fixed income allocations, and support for ISO15022 standards.
About Charles River Development
Charles River Development is a provider of financial technology and consulting services to the global investment management, banking, pension, and insurance industries. By combining state-of-the-art and industry-standard technologies, Charles River delivers applications that are open, flexible, scalable, rich in functionality, and easy-to-use.
The Charles River Investment Management System (Charles River IMS) is a comprehensive, integrated, front and middle office suite for all security types. Each of the suite's three components is available as a standalone application: Charles River Manager offers sophisticated tools for portfolio management including "what if" analysis, modeling, portfolio rebalancing, and order generation; Charles River Trader provides order management, electronic trading, and liquidity access; and Charles River Compliance offers global, real-time, pre-trade, post-execution, and portfolio-level compliance monitoring.
Charles River IMS supports 24x7 operations and facilitates downstream trade processing via embedded links to VMUs, custodians, and settlement facilities. Message-based APIs and exposed Web Services allow for rapid systems integration.
Founded in 1984 and privately held, Charles River serves over 120 clients worldwide and maintains offices in Burlington, MA, Chicago, London, New York, San Francisco, Singapore, and Sydney. For more information, please visit www.crd.com.
About Credit Suisse First Boston
Credit Suisse First Boston (CSFB) is a leading global investment bank serving institutional, corporate, government and individual clients. CSFB's businesses include securities underwriting, sales and trading, investment banking, private equity, financial advisory services, investment research, venture capital, correspondent brokerage services and asset management. CSFB operates in 69 locations in 34 countries across five continents. The Firm is a business unit of the Zurich-based Credit Suisse Group, a leading global financial services company. |
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