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Liquidity, Execution and Collaboration: Old Problems, New Solutions

Liquidity, Execution and Collaboration: Old Problems, New Solutions

Fixed Income, Trading

Now in its fourth year, the 2018 Fixed Income Leaders Summit (FILS) drew record attendance from buy-side firms, trading venues and technology vendors. Charles River has participated in this event since the start, and we’ve worked with our buy-side clients and...

The New OTC Challenge: Optimizing Collateral Management in the Front and Middle Office

The New OTC Challenge: Optimizing Collateral Management in the Front and Middle Office

bobsguide, Industry Publications, OTC Derivatives

Collateralized OTC derivatives transactions help firms reduce credit risk when dealing with smaller, less capitalized counterparties, during periods of market shocks, and when holding long-dated positions. However, managing, monitoring and optimizing collateral places...

Creating Efficiencies and Reducing Operational Risk with an Investment Book of Record (IBOR)

Creating Efficiencies and Reducing Operational Risk with an Investment Book of Record (IBOR)

bobsguide, Industry Publications, Middle Office

An increasingly critical middle office function is delivering accurate and timely position data to the front office and ensuring redundancy with outsourced back-office services. This article discusses the operational, regulatory and competitive drivers for automated...

Rethinking the Middle Office: Solving Buy-side Challenges with Financial Technology

Rethinking the Middle Office: Solving Buy-side Challenges with Financial Technology

bobsguide, Industry Publications, Middle Office

The buy-side middle office is undergoing significant change, as new regulations, increased use of OTC derivatives and fee compression force firms to reevaluate their existing staffing, workflows and technology. This Insight explores those changes, and discusses how a...

Designing Smart Beta Portfolios (PART 2): The Role of Factor Models and Technology Considerations

Designing Smart Beta Portfolios (PART 2): The Role of Factor Models and Technology Considerations

bobsguide, Industry Publications, Portfolio Analytics

Charles River recently discussed how Smart Beta products can improve portfolio diversification, minimise undesirable correlation risk, and deliver better risk-adjusted performance. This article continues the discussion, focusing on the pivotal role of factor models in...

Designing Smart Beta Portfolios (PART 1): Challenges and Considerations

Designing Smart Beta Portfolios (PART 1): Challenges and Considerations

bobsguide, Industry Publications, Portfolio Analytics

Increasingly popular Smart Beta products provide investment managers and asset owners with conveniently packaged exposure to a number of factors. Risk factors are granular attributes of one or more asset classes that explain risk and return. Read Part 2 - Designing...

MiFID II Transaction Reporting Challenges for the Buy-Side

MiFID II Transaction Reporting Challenges for the Buy-Side

Industry Publications, MiFID ll, TABB Forum

TABB Forum selected our article on MiFID II as one of the top articles of 2017. We discuss the key role that technology plays in helping buy-side firms achieve compliance with the regulation’s extensive trade and transaction reporting requirements. Technology...

How Fund Look-through Improves Buy-side Risk Monitoring & Performance Evaluation

How Fund Look-through Improves Buy-side Risk Monitoring & Performance Evaluation

bobsguide, Industry Publications, Portfolio Analytics

Asset managers and owners increasingly implement their investment strategy by buying funds from a number of providers. These funds can represent a significant portion of the firm’s portfolio, and complicate their ability to manage risk, measure performance and comply...

Two Approaches to Buy-Side Scenario Analysis

Two Approaches to Buy-Side Scenario Analysis

bobsguide, Industry Publications, Portfolio Analytics

Buy-side firms increasingly offer a diverse set of funds and products to meet the risk appetites and investment objectives of their institutional clients. Multi-asset, long-only, and leveraged portfolios all have very different characteristics that require front and...

Understanding Mortgage Prepayment Models

Understanding Mortgage Prepayment Models

bobsguide, Industry Publications, Portfolio Analytics

U.S. agency residential mortgage-backed securities (RMBS) are the largest and most liquid securitized asset class in the world. Pooling thousands of individual mortgages into a standardized security lets investors easily gain exposure to this important asset...

A Buy-Side Framework for Managing OTC Derivatives

A Buy-Side Framework for Managing OTC Derivatives

Industry Publications, OTC Derivatives, TABB Forum

Learn how several regulatory and structural drivers are affecting buy-side usage of OTC derivatives, leading to higher trading costs and a fundamental reshaping of technology infrastructure for managing derivatives. Charles River Development discusses...

Minimizing Performance Dispersion between Models and SMAs

Minimizing Performance Dispersion between Models and SMAs

Wealth Management

A recent FundFire article found that “performance of portfolios in models-based managed account programs can sometimes diverge from the separately managed account (SMA) strategies they aim to track. Some performance differences can be expected, due to the timing of...

Scaling SMAs to Improve Investment Performance

Scaling SMAs to Improve Investment Performance

Wealth Management

Separately Managed Accounts (SMAs) are a widely used investment vehicle for endowments, retirement plans, foundations, and wealth managers. The popularity of SMAs is underscored by broad global institutional sponsorship and investor acceptance. As of 2015, more than...

Turning the DoL Fiduciary Rule into Opportunities for Wealth Managers

Turning the DoL Fiduciary Rule into Opportunities for Wealth Managers

Wealth Management

The Department of Labor (DoL) Fiduciary Rule requires financial advisors to meet a fiduciary, rather than a suitability, standard when recommending investment products for their clients’ retirement accounts. This will significantly impact asset managers, wirehouses,...

TABB Forum Fixed Income 2017 – Liquidity, Price Transparency and Regulations

TABB Forum Fixed Income 2017 – Liquidity, Price Transparency and Regulations

Fixed Income, Industry Publications, TABB Forum, Trading

Charles River discusses The Future of Fixed Income Market Structure and Trading Analytics with TABB Forum. Topics include MiFID regulatory reporting obligations, execution analysis and efficiently sourcing liquidity from the growing number of fixed income trading...

How an OEMS Helps Buy-Side Firms Achieve Best Execution

How an OEMS Helps Buy-Side Firms Achieve Best Execution

Fixed Income, Industry Publications, TABB Forum

Learn how an Order and Execution Management System (OEMS) can help traders better serve the needs of their fixed income clients by providing extensive execution analysis capabilities and ensure compliance with emerging regulatory...

Building Smarter Portfolios with Factor Models

Building Smarter Portfolios with Factor Models

Portfolio Analytics

In a recent Insights article, we discussed how factor models are changing the way institutional investment managers analyze and measure portfolio risk. In this Insight, we’ll examine factor-based investment methods and challenges, and discuss how managers use Charles...

Enhancing Portfolio Construction with Factor Models

Enhancing Portfolio Construction with Factor Models

Portfolio Analytics

Factor models and factor-based investing are changing the way institutional investment managers construct portfolios and analyze risk. This Insight discusses how factor models enable better portfolio risk assessments and how they are implemented in Charles River’s...

Maximizing the Value of Multi-Leg Orders with an OEMS

Maximizing the Value of Multi-Leg Orders with an OEMS

bobsguide, Industry Publications, Trading

As multi-leg strategies garner increased attention from institutional asset managers, the ability to manage these orders in an efficient manner grows in importance. This Insight discusses how a multi-asset Order and Execution Management System delivers...

Simplifying Buy-Side Operations with SaaS

Simplifying Buy-Side Operations with SaaS

Tom Driscoll, Global Managing Director, on the benefits of combining software, data, infrastructure, FIX Network and other services with Charles River’s SaaS-based deployment. Visit our SaaS Overview page and read the press release on Charles River's Global ISO...

Re-thinking Buy-Side Portfolio Decision Support

Re-thinking Buy-Side Portfolio Decision Support

bobsguide, Industry Publications, Portfolio Analytics

Portfolio decision support solutions provide integrated multi-asset risk management and scenario analysis, performance measurement and attribution, and portfolio analysis and construction capabilities on a single platform, with managed security and benchmark data,...

IBOR: Improving Buy-Side Decision Support with Position-Level Transparency

IBOR: Improving Buy-Side Decision Support with Position-Level Transparency

bobsguide, Industry Publications, Portfolio Analytics

Ensuring that firms are utilising consistent and high quality position data is essential to improving decision support, lowering operational risks and dealing with growing product complexity....

An EDM Reality Check for the Buy-Side

An EDM Reality Check for the Buy-Side

bobsguide, Data Management, Industry Publications

Enterprise Data Management underpins a firm’s ability to offer differentiated products, centralise firm-wide data, manage complex fixed income and derivative instruments, and maintain real-time visibility into risk factors and counterparty exposures. ...

How an OEMS Bridges the Gap Between Traditional and Electronic Fixed Income Market Structure

How an OEMS Bridges the Gap Between Traditional and Electronic Fixed Income Market Structure

Fixed Income, Industry Publications, TABB Forum

An OEMS helps buy-side firms by centralizing connectivity to dealers and trading systems on a single desktop and providing critical trade decision support via a comprehensive database of trade, order and market history. < Order and Execution...

Valuing Interest Rate Swaps: The Importance of Dual Curve Stripping

Valuing Interest Rate Swaps: The Importance of Dual Curve Stripping

Portfolio Analytics

An Interest Rate Swap (IRS) is a versatile and widely used derivative that helps firms manage interest rate exposures, reduce borrowing costs, and restructure cash flows in a cost-effective manner. A vanilla IRS allows two parties, each with an identical notional...

Improving Operations – Migrating to SaaS, Steps to Success

Improving Operations – Migrating to SaaS, Steps to Success

Software as a Service (SaaS) is seeing increased uptake from Buy-Side firms including Charles River clients seeking to improve operations and provide better support to the front and middle office. With the ongoing evolution and complexity of investment management...

Two Approaches to Stress Testing

Two Approaches to Stress Testing

Portfolio Analytics

Stress tests are risk management tools widely used by both institutional investment managers and regulatory authorities. While annual Dodd-Frank Act stress tests of large financial institutions garner lots of media coverage, the same tools are applied by portfolio...

Buy-Side Data: Getting it Right

Buy-Side Data: Getting it Right

Data Management

Data management and provisioning are two of the biggest challenges facing buy-side firms. Front and middle office operations require significant amounts of pricing and security reference data from a number of disparate sources. The individual vendors of those data...

An Execution Analysis Framework

An Execution Analysis Framework

Regulators and institutional investors are demanding that buy-side firms demonstrate “best execution” for fixed income instruments. But defining the term in a fixed income context is rather subjective. While regulators are working on a detailed definition that...

Easing the e-Trading Transition

Easing the e-Trading Transition

The massive changes in fixed income markets since 2008 have been widely discussed; see these Institutional Investor and BIS articles for an in-depth analysis. Shrinking liquidity and limited price transparency pose significant problems for credit desks, leaving...

MiFID II – Uncertainty Abounds

MiFID II – Uncertainty Abounds

No one doubts that MiFID II will have a major impact on investment management in the European Union, from changes in venue requirements to execution data tracking and post-transaction transparency. However, there’s a lot of uncertainty as to how Buy-Side firms should...

MiFID II – Preparing for Change

MiFID II – Preparing for Change

The implementation of MiFID II will have a major impact on investment management in the European Union, from changes in venue requirements to execution data tracking and post-transaction transparency. This extensive regulation presents significant changes in the...

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