Press Release

Charles River Expands MiFID II Support by Adding Continuous Evaluated Pricing from ICE Data Services for Best Execution

December 21, 2017

Boston — December 21, 2017 — Charles River is helping clients prepare for the impending European Union’s Markets in Financial Instruments Directive II (MiFID II) requirements by incorporating ICE Data Services’ Continuous Evaluated Pricing (CEP) into the Charles River Investment Management Solution (Charles River IMS). Charles River provides investment managers with an end-to-end solution for meeting regulatory obligations under MiFID II. The solution captures key data and trade lifecycle decision points needed to comply with new requirements for trade and transaction reporting, best execution and commission management.

CEP provides an independent, trade-by-trade measure of price quotes that help fixed income portfolio managers and traders more easily identify potential trade opportunities, while also providing a tool to assist fund managers, traders and compliance officers to ensure they meet their obligation under MiFID II to undertake “all sufficient steps” to achieve the best trading result for their clients. CEP from ICE Data Services, which is part of Intercontinental Exchange (NYSE:ICE), provides a continuous stream of fixed income evaluations on over 2.4 million instruments across Global Corporate Bonds, Emerging Markets, Money Markets and Sovereigns, as well as Treasuries, US Agencies, US Municipal Bonds, MBS Pass-throughs, TBA Mortgages and Bank Loans.

“By incorporating ICE’s CEP, Charles River gives portfolio managers a more realistic measure of quotes so they can make better decisions as well as meet the more stringent requirements of MiFID II,” said Tim Kelly, Head of Product Management, Charles River. “With Charles River’s significant R&D investment we are confident our solution enables clients to meet their MiFID II obligations.”

“Given its real-time capabilities, CEP often plays an important role supporting pre-trade price discovery and post-trade execution quality analysis in the fixed income markets,” said Rob Haddad, Head of Product Strategy and Innovation at ICE Data Services. “Working with companies like Charles River allows ICE Data Services to offer critical data and analytics solutions that support our clients’ desired workflow in support of their MiFID II compliance obligations.”

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 Software as a Service‐based solution automates and simplifies investment management on a single platform – from portfolio management and risk analytics through trading and post‐trade settlement, with integrated compliance and managed data throughout. Headquartered in Burlington, Massachusetts, we support clients globally with more than 750 employees in 11 regional offices. For more information, please visit www.crd.com.