Charles River Development, a State Street Company (NYSE:STT), today announced that its Charles River Investment Management Solution (Charles River IMS) has been selected as winner of the “Best Trading Platform” award in the fifth annual FinTech Breakthrough Awards program conducted by FinTech Breakthrough, an independent market intelligence organization that recognizes the top companies, technologies and products in the global FinTech market today. Charles River Development was a winner in last year’s awards program, having been recognized for “Best Wealth Management Platform”.
Charles River IMS combines Order and Execution Management on a single platform, integrated with data, FIX connectivity and trade analytics. The solution allows traders to automate trade execution strategies, find liquidity, execute trades across all asset classes and currencies, and ensure compliance from one blotter.
Additionally, Charles River IMS enables investment firms and wealth managers to eliminate the multiple interfaces, fragmented workflows and order staging problems inherent with separate order and execution management platforms. By combining OMS and EMS (OEMS) capabilities, the solution streamlines workflows and improves communication between portfolio managers and traders. Multi-asset order and execution management capabilities also improve trade execution and provide access to more than 1200 liquidity providers including brokers, broker algorithms, and ECN’s.
“Charles River IMS is a powerful platform, supporting the full range of financial products, from asset class-specific to solution oriented, and complex multi-asset products, including derivatives,” said James Johnson, Managing Director, FinTech Breakthrough. “This represents a true FinTech breakthrough and we’re proud to be able to award Charles River Development with our ‘Best Trading Platform’ award in the 2021 FinTech Breakthrough Awards program.”
The FinTech Breakthrough Awards is the premier awards program founded to recognize the FinTech innovators, leaders and visionaries from around the world in a range of categories, including Digital Banking, Personal Finance, Lending, Payments, Investments, RegTech, InsurTech and many more. The 2021 FinTech Breakthrough Award program attracted more than 3,850 nominations from across the globe.
“Investment managers are challenged by growing complexity, resulting in fragmented workflows and lost productivity. Our global solution provides traders with a single, consistent interface for trading equities, fixed income, derivatives, futures and FX,” said Michael Beattie, Director of Product Strategy, Charles River Development. “We are thrilled to be recognized for our multi-asset trading platform in the 2021 FinTech Breakthrough Awards program.”
Deployed in the Microsoft Azure cloud, Charles River’s open architecture platform provides interoperability with a growing ecosystem of third-party trade analytics, TCA, data and liquidity providers. This enables all firms, from hedge funds to large institutional multi-fund firms to address the demands of their investment process and product mix. The EMS is supplied with real-time Level I & II data, time and sales, price history, news, indications of interest (IOI), valid counterparties, and dealer inventory, providing traders with a complete picture of price, liquidity and volume. Extensive analytics and integrated pre- and post-trade TCA help traders quickly discover and incorporate market signals into trading decisions.
About Charles River, A State Street Company
Investment firms, asset owners, wealth managers, hedge funds and insurers in more than 30 countries rely on Charles River’s front and middle office investment management platform to manage more than US$30 Trillion in assets. Together with State Street’s middle and back office capabilities, Charles River’s cloud-deployed software technology forms the foundation of State Street AlphaSM. The Charles River Investment Management Solution (Charles River IMS) is designed to automate and simplify the institutional investment process across asset classes, from portfolio management and risk analytics through trading and post-trade settlement, with integrated compliance and managed data throughout. Charles River’s growing partner ecosystem enables clients to seamlessly access external data and analytics, applications and liquidity venues that support the unique demands of their product and asset class mix. Headquartered in Burlington, Massachusetts, we serve clients globally with more than 1,000 employees in 11 regional offices. (Statistics as of as of February 2021)
About FinTech Breakthrough
Part of Tech Breakthrough, a leading market intelligence and recognition platform for technology innovation and leadership around the globe, the FinTech Breakthrough Awards program is devoted to honoring excellence in Financial Technologies and Services companies and products. The FinTech Breakthrough Awards provide public recognition for the achievements of FinTech companies and products in categories including Payments, Personal Finance, Wealth Management, Fraud Protection, Banking, Lending, RegTech, InsurTech and more. For more information visit FinTechBreakthrough.com.
About State Street Corporation
State Street Corporation (NYSE: STT) is one of the world’s leading providers of financial services to institutional investors including investment servicing, investment management and investment research and trading. With $38.8 trillion in assets under custody and/or administration and $3.5 trillion* in assets under management as of December 31, 2020, State Street operates globally in more than 100 geographic markets and employs approximately 39,000 worldwide. For more information, visit State Street’s website at www.statestreet.com.
*Assets under management as of December 31, 2020 includes approximately $75 billion of assets with respect to SPDR® products for which State Street Global Advisors Funds Distributors, LLC (SSGA FD) acts solely as the marketing agent. SSGA FD and State Street Global Advisors are affiliated.
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Charles River Development – A State Street Company is a wholly owned business of State Street Corporation (incorporated in Massachusetts).
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