Press Release

Charles River Development Prepares Clients for MiFID II; Offers New Capabilities

November 22, 2016

Boston – Asset Managers are faced with sweeping changes as a result of European policy makers amending regulations under the Markets in Financial Instruments Directive II (MiFID II). Charles River Development offers trading and reporting capabilities to comply with the Directive’s requirements.

“MiFID II is extremely large in scope and impacts firms not only in Europe but around the world,” said Lee Garf, Vice President, Product Management, Charles River. “We’ve worked closely with clients over the past two years to identify their needs and concerns surrounding MiFID II. The Charles River Investment Management Solution enables them to capture and report on all required information.  This allows clients to support operational changes needed to comply now and to respond as the Directive and market evolve.”

Charles River IMS enables firms to support MiFID II requirements:

Transaction reporting

  • Track all data requirements for MiFID II across different instruments
  • Automate assignment of investment decision maker based on rules
  • Streamline workflow to submit initial and amended reports through a central service

Commission management

  • Track breakout of execution and research commissions per trade
  • Automate commission tracking with criteria-based rules
  • Define commission budgets and track progress for Research Payment Accounts

Trade reporting

  • Submit real-time reports for trades not covered by trading venues or counterparties
  • Filter trades that require reporting, based on a variety of factors

OTC derivatives

  • Identify when trade parties are within the ESMA jurisdiction
  • Evaluate MiFID II regulatory fields, such as Large-in-Scale and Notional Change
  • Split multi-jurisdictional orders by regulator

Best execution

  • Track factors and decisions that impact execution quality
  • Show adherence to best execution standards throughout the order lifecycle
  • Audit the full order history using historical data

About Charles River
Charles River enables sound and efficient investing across all asset classes. Over 350 firms worldwide use Charles River IMS to manage more than US$25 Trillion in assets in the institutional investment, wealth management and hedge fund industries. Our SaaS-based solution automates and simplifies investment management on a single platform – from portfolio decision support and risk management through trading and post-trade settlement, with integrated risk and compliance throughout. Headquartered in Burlington, Massachusetts, we support clients globally with more than 750 employees in 11 regional offices.