Buy-Side Technology Awards 2015: Best Buy-Side OMS—Charles River Development

The cross-asset platform—which employs a software-as-a-service (Saas) model—melds together order management alongside execution management, portfolio management and compliance management. But more than that, Charles River adds data services, an investment book of record (IBOR), and an enterprise data management (EDM) program to that mix. The reason for this, according to the vendor, is to answer asset managers’ every need as they look to grow their assets under management, while managing costs and data integration. Charles River believes that asset managers are looking to deploy a single, out-of-the-box solution to support all asset types, with simplified workflows. 

“The traditional software-only model is now rarely seen as the preferred deployment option,” says Tom Driscoll, Charles River’s global managing director. “Most buy-side firms are looking for a SaaS-based solution with packaged data and predictable upgrades to stay current.”

CRD boasts a roster of over 360 institutions, representing over $20 trillion in assets under management across more than 40 countries. The IMS order-management platform is integrated with data and FIX connectivity, which supports global electronic trading and provides access to 800-plus global liquidity venues and over 60 algorithmic brokers. The integrated data management offering includes reference data, real-time market data, benchmarks and corporate actions data, while the trade blotter is designed to eliminate multiple interfaces.

“As a result of Charles River’s predictable, continued R&D investment into our software-as-a-service delivery approach, we have expanded our product and service offering into a complete front- and middle-office solution, delivered via SaaS,” Driscoll says. Charles River officials confirm that for 2016 they will look to enhance the company’s cross-asset trader decision-support capabilities, expand ex-ante risk capabilities, augment the middle-office and EDM functions and trade transparency and Mifid II support, while continuing to integrate with market data providers, swap-execution facilities, and other execution venues.

Over the past four lean years, it’s not a case of Charles River’s platform falling away, but more a case of the OMS market becoming increasingly competitive. But with its years of experience and swath of top-end products, Charles River will always be in contention in this category. 

The IMS order-management platform is integrated with data and FIX connectivity, which supports global electronic trading and provides access to 800-plus global liquidity venues and over 60 algorithmic brokers.