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

Product: Order and Execution Management System

“We are pleased to be recognized by the industry for our multi-asset order and execution management platform. This validates our continued strong R&D investment and focus on meeting the rapidly evolving needs of institutional investment firms, wealth managers and asset owners. Our recent partnerships with industry innovators such as Snowflake and Microsoft Azure and leading global liquidity venues enable us to bring new and differentiated capabilities to market faster. This helps our customers gain timelier insights from growing volumes of data, trade more efficiently, grow assets under management and attain compliance with emerging regulations.” 
Michael Beattie, director of product strategy, 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.

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