Do we need another version of Charles River?


Alex Bigland Financial Services, Blog

CR OMS is a front to middle office software suite for all security types; with modules for portfolio management, trading, compliance and settlements. The system aims for 24/7 trading (but the reality is it’s probably closer to 24/6.5... Time zones and life in general make it difficult to achieve perfection). 

With more than 300 clients globally, CRD have a massive reputation to sustain, and have released their version 9 upgrade to the market a number of months ago. With version 9, Charles River have achieved that professional look (which other OMS achieved some time ago) and our sources say greatly improves the user experience. It offers a rich functionality and flexibility; supporting high wealth management accounts, and offers a new performance module. This is said to enable users to calculate, analyse and report on multi asset/currency performance measurement, equity and fixed income attribution, and a variety of performance risk measures. 

Charles River owner, Peter Lambertus has been quoted online saying it is the only single platform to offer complete order and execution management and performance modules. From our sources it is apparent the system definitely benefits the trader; operating round the clock, the system also now offers a web based workstation providing tools for remote access. Users may now access algorithmic and program trading, real time data, cost analysis, market access and customisation options. 

In terms of implementing this version, our sources suggest the system has issues; the system’s ability to be bolted into existing architecture and interfaces sometimes struggles. With a more complex version with increased functionality, comes a complex system to shoehorn and fix into client site. On occasions it can be complicated and difficult to configure. 

With this in mind, Venquis wonder if Charles River Version 9 meets the industry’s expectation... Ultimately it is the trader that will make most use of the system; however it’s clear some have had issues with its interface. With some facing difficulties during implementation, only time will tell if the system is more beneficial. However, given CRD’s track record for delivering what clients want, we would back Version 9 to win again, and look forward to the success stories to come.

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