[ 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 , A State Street Company
Charles River Development , part of State Street , offers an integrated order and execution management system ( OEMS ) - Charles River Trader - that sits at the center of the company ’ s cloud-based enterprise investment management solution ( Charles River IMS ), providing direct access between buy-side clients and sell-side brokers via the Charles River Network . Charles River Trader provides OEMS capabilities from a single user interface and blotter to aid in trader productivity while giving users a complete aggregated view of all orders and execution status . Charles River also notes that the flexibility and openness of its solution enables choice by offering access to its extensive partner ecosystem easing the third-party integration process . The company counts 300 buy-side clients globally using its OEMS , of which 27 provided feedback in this year ’ s survey . Among them , Charles River was appointed to manage the front-office operations for Perpetual Group ’ s Australian asset management business earlier this year . Specifically , Charles River ’ s IMS was adopted to manage the asset manager ’ s domestic and global portfolios , order and execution , compliance , posttrade processing and front-office data .
Charles River ’ s overall average in this year ’ s survey stayed even at 5.01 , keeping the vendor in the good range ( 5.00-5.99 ). It is also worth noting that Charles River provides its clients with a multi-faceted investment management solution which leverages the strength of the core OEMS but does not operate as a pure stand-alone EMS solution . The company ’ s highest score of 5.58 was recorded in FIX capabilities followed by breadth of asset class coverage ( 5.47 ), reliability and availability ( 5.46 ), and breadth of direct connections to venues ( 5.46 ).
In terms of year-over-year performance , Charles River saw significant improvements across many of the functional areas measured in this year ’ s survey with the most notable being in timeliness of updates for broker changes (+ 0.52 ), client service personnel (+ 0.36 ), ease of integration to internal systems (+ 0.25 ), and breadth of direct connections to venues (+ 0.17 ).
When asked which additional capabilities they would like to see from their EMS provider , clients responding to Charles River noted a desire for more sophistication around data aggregation and event driven automation , TCA enhancements and a desire for better algos and improved algo functionality .
CHARLES RIVER , A STATE STREET COMPANY RATINGS FOR EMS PERFORMANCE
Reliability and availability |
Latency |
Client service personnel |
Ease-ofuse |
Handling of new versions / releases |
Breadth of broker algorithms |
Timeliness of updates for broker changes |
FIX capabilities |
5.46 5.30 4.76 4.88 4.50 4.80 4.77 5.58
Breadth of asset class coverage |
Breadth of direct connections to venues |
Product development |
Ease of integration to internal systems |
Overall cost of operation |
Average score |
5.47 5.46 4.69 4.97 4.51 5.01
KEY STATS |
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5.58 |
4.50 |
+ 0.52 |
-0.51 |
Highest score ( FIX capabilities ) |
Lowest score ( handling of new versions / releases ) |
Most improved ( timeliness of updates for broker changes ) |
Least improved ( ease-of-use ) |
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Issue 81 // thetradenews . com // 87 |