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[ S U R V E Y | E X E C U T I O N M A N A G E M E N T S Y S T E M S ] Charles River In previous years Charles River (CRD) has not received enough responses to qualify for a provider profile. This Reliability and Availability changed significantly in 2017. CRD generated a 200% Latency in responses. The firm, which has long been increase known as a provider of OMS capabilities to many of the Client Service Personnel world’s largest asset managers, saw its EMS services Ease-of-Use evaluated by a large number of institutional long-only Handling of New Versions/Releases managers. The majority of customers who responded are based in the US, though responses were received Breadth of Broker Algorithms from Asia and UK as well. The scale of the business Timeliness of Updates for Broker Changes undertaken by CRD respondents is reflected in the fact FIX Capabilities that it had the highest average weight of respondents among major providers. These clients are naturally Breadth of Asset Class Coverage demanding. Coupled with the way in which the CRD Breadth of Direct Connections to Venues execution management capabilities have evolved, this Product Development probably explains some of the scoring. Scores overall were lower than in 2016. Given the Ease of Integration to Internal Systems small number of responses last year the comparisons Overall Cost of Operation are less meaningful for CRD than for others. However, scores in 8 of 13 categories saw an average of less than Charles River the default score of 5.0. Probably 2016 2017 the most concerning was the score for Client Service. The CRD position 4.99 5.26 was well down on the 2016 score and significantly 5.06 for all major 5.02 below the average providers and the Survey overall. 5.27 In some categories, 4.35 for example Broker Connections, the development of the CRD execution 5.24 4.82 management capability probably impacts on the way 4.17 for relatively low its services are 4.51 viewed and accounts scores. However that should 4.47 not be the case for some- 5.17 thing as important as client service. CRD also scored 4.48 4.55 relatively poorly in terms of Overall Cost and the way 5.34 and upgrades in which new 5.57 versions are introduced completed. 5.47 5.09 The company makes a good case for the integrated 5.59 5.06 nature of its offering and the incorporation of key 4.88 and compliance 4.51 areas such as analytics within it. The core OMS capability remains strong and CRD 5.73 certainly 4.95 is successful in the marketplace. However in compari- 5.32 4.21 son to specialist EMS providers, it would appear there is still work to be done. 4.99 Reliability and Availability 5.26 5.06 5.02 Latency Client Service Personnel 5.27 4.35 Ease-of-Use 5.24 4.82 Handling of New Versions/Releases 4.51 4.17 Breadth of Broker Algorithms 5.17 4.47 4.48 4.55 Timeliness of Updates for Broker Changes 5.57 5.34 FIX Capabilities Breadth of Asset Class Coverage 5.09 Breadth of Direct Connections to Venues 5.06 Product Development 4.51 Ease of Integration to Internal Systems 5.47 5.59 4.88 5.73 4.95 Overall Cost of Operation 5.32 4.21 0.00 1.00 2.00 2016 3.00 4.00 5.00 6.00 7.00 2017 Issue 53 TheTradeNews.com 81