Waters Rankings 2021: Best buy-side order management system (OMS) provider—Charles River Development

WHY THEY WON

Charles River Development has been a stalwart OMS on the buy side for a long time—hence State Street’s acquisition. This win can likely be connected to the integration with other State Street properties, including Alpha. 

WHAT’S NEW

Charles River has grown its partner ecosystem with integrations to liquidity venues including FX Connect, Broadridge LTX, OTCX and the Finsemble desktop interoperability platform.

The vendor recently launched an algo wheel to improve trader efficiency and execution quality.

It released its Inventory Hub for processing and aggregating inventory across dealers and venues, helping improve price discovery by enabling traders to view this inventory in the OEMS, receive updated indications of interest and quotes from dealers, and place orders for a full range of products and asset classes.

Charles River also launched the State Street Alpha Data Platform, an end-to-end data management solution for institutional investment and wealth managers powered by the Snowflake Data Cloud.

WHAT’S TO COME 

Charles River plans to streamline the new issue life cycle for traders and portfolio managers with digitized workflows, auditability for regulatory reporting, and connectivity to sell-side venues.

It will introduce new private markets capabilities to help firms process large volumes of structured and unstructured data, manage valuations consistently, construct and analyze potential scenarios, and deploy capital.

Lastly, the vendor will launch Tailored Portfolio Solutions, enabling wealth and asset managers to offer high-value portfolio customization at scale.