[ 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- Charles River Trader- providing 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 Trader aims to help traders operate as efficiently as possible by offering co-mingling of execution and order data capabilities, automated order routing, pre-trade liquidity analysis and TCA data, integration of third-party providers and post-trade data presentation and reporting tools.
Over the next 12 months, Charles River is delivering enhancements to help clients improve investment workflows, the user experience and enhance connectivity with algorithms, brokers and other technologies. The company counts 300 buy-side clients globally using its Charles River Trader, of which 28 provided feedback in this year’ s survey.
Charles River’ s overall score was 4.93, showing a decrease of-0.08 compared to last year. The company’ s best category was breadth of asset class coverage with the highest score of 5.69, followed by FIX capabilities( 5.64), breadth of broker algorithms( 5.51) and reliability and availability( 5.34). Charles River saw improvements across many of the functional areas, most notably in breadth of broker algorithms, which had the highest increase in all categories across the ten EMS providers in this survey at + 0.71. This was followed by timeliness of updates for broker change(+ 0.27) and breadth of asset class coverage. On the other hand, the least improved category was overall cost of operation, which experienced a decline of-0.57.
Responding clients were heavily North American focused at 86 %. In addition, 79 % were from firms managing over $ 50 billion in AUM, which is not a huge surprise given Charles River’ s competitive position within larger asset managers.
Sample feedback from respondents included the following:
• More robust EMS trading capabilities in CRD
• Single name CDS capabilities
• More dedicated approach to bring new enhancements in the system to help with workflow
• Lower cost to brokers
• Better analytics
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 |
5.34 5.25 4.33 4.95 4.18 5.51 5.04 5.64
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 |
5.69 5.24 4.23 4.77 3.94 4.93
KEY STATS Category Outperformer: X1
5.69
Highest score( Breadth of asset class coverage)
3.94
Lowest score( Overall cost of operation)
+ 0.71
Most improved( Breadth of broker algorithms)
-0.57
Least improved( Overall cost of operation)
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