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Press Release

Charles River Forms Business Alliance with Broadridge to Enable Clients to Reduce Risk and Improve Productivity

Expands SWIFT Capabilities in Charles River IMS

August 14, 2018

Boston and New York — August 14, 2018 — Charles River Development and Broadridge Financial Solutions, Inc.(NYSE:BR), have formalized a business alliance to enable better integration with the SWIFT network in the Charles River Investment Management Solution (Charles River IMS).

The recent SEC mandate to decrease settlement times from T+3 to T+2 is designed to enhance efficiency, reduce risk, and ensure a coordinated and expeditious transition to a shortened settlement cycle.  With the migration to T+2, asset managers are challenged to manage settlement risk and ensure accurate records with custodians and prime brokers.  Broadridge’s SWIFT solution, which is used by more than 100 clients globally, accelerates the adoption of industry standard ISO formats to facilitate timely settlement and accurate start of day positions in the Charles River IMS.  Broadridge will support unlimited routing choices to send and receive messages across the SWIFT network, while Charles River will generate messages in ISO 15022/20222 formats, process SWIFT-formatted replies from custodians, and provide seamless application workflow support.

Together with Charles River’s collateral management, post-trade processing and settlements, IBOR, and GIPS-compliant PMA, expanded SWIFT messaging support provides investment managers and asset owners with a complete middle office solution, enabling clients to take advantage of a single system to manage their entire trade life cycle using automated straight through processing (STP).

“At Broadridge we drive innovation and develop solutions that allow our clients and business partners to get ahead of today’s challenges and capitalize on tomorrow’s opportunities,” said Alastair McGill, General Manager, Broadridge. “As a leading SWIFT partner and global service bureau provider, we will enable Charles River’s buy-side clients to seamlessly integrate with the SWIFT network. Additionally, the highly configurable workflow and routing options within FinMApp ensure we can optimize Charles River’s clients’ operational processing to deliver significantly improved control.”

“We have been working with leading providers of messaging and collateral management services to complete our middle office solution,” said Peter Lambertus, CEO, Charles River. “The alliance with Broadridge is an important step forward to help our clients reduce settlement risk and improve middle office productivity.”

The alliance ensures Charles River’s buy-side clients can use SWIFT messaging to notify custodians of incoming trades, receive notifications from custodians confirming trade settlement, notify custodians of collateral transfer for margin calls and facilitate the transmission of start-of-day positions and transactions from custodians into the Charles River Investment Book of Record (IBOR).

About Broadridge

Broadridge Financial Solutions, Inc. (NYSE:BR), a $4 billion global fintech leader and member of the S&P 500, provides investor communications and technology-driven solutions for broker-dealers, banks, asset managers and corporate issuers globally. Broadridge’s investor communications, securities processing and managed services solutions help clients reduce their capital investments in operations infrastructure, allowing them to increase their focus on core business activities.  With over 50 years of experience, Broadridge’s infrastructure underpins proxy voting services for over 50 percent of public companies and mutual funds globally, and processes more than $5 trillion in fixed income and equity trades per day.  Broadridge employs approximately 10,000 full-time associates in 18 countries. For more information about Broadridge, please visit www.broadridge.com.

About Charles River

Institutional, wealth, asset owner and alternative investment firms use the Charles River IMS to manage more than $25 Trillion in assets. The Charles River IMS is delivered in a private cloud via Software as a Service (SaaS) and includes portfolio decision support, order management, trading, compliance, post-trade settlement, IBOR, performance measurement and attribution, risk, collateral management, data provisioning, data management and other front and middle office capabilities.

Headquartered in Burlington, Massachusetts, Charles River supports over 300 clients in more than 40 countries with 750 employees in 11 regional offices.  For more information, please visit www.crd.com.