Bank of New York brokerage subsidiary BNY Brokerage has linked its DEx (Direct Execution Services) trading platform with the Charles River Investment Management System (Charles River IMS) order management system.
“We are excited to begin this new relationship with BNY Brokerage,” says Peter Lambertus, Charles River president and CEO. “The new offering further exemplifies our ongoing commitment to providing Charles River clients with a premier choice of liquidity providers and workflow solutions.”
DEx aims to provide Charles River IMS clients with electronic direct access to all markets. FIX integration will now allow Charles River clients to direct order flow from Charles River IMS on their desktops through BNY Brokerage’s DEx platform. Money managers using Charles River IMS can now also access the SonicPort front-end to work orders directly into the marketplace to reach all points of liquidity including ECNs and Nasdaq’s order routing systems, as well as the NYSE and other exchanges.
Charles River clients can take advantage of SonicPort’s services, including trading order types, such as pegging and discretion; a proprietary smart order routing algorithm; web-based trade data reporting; built-in risk management tools; a FIX API connection; and a trade support unit. In addition, BNY Brokerage’s proprietary algorithms are available through SonicPort, as well as directly through Charles River IMS.
“BNY Brokerage is delighted to join Charles River’s Premier Partner program by offering clients direct market access through DEx,” says Carey S. Pack, president of BNY Brokerage. “Our goal is to offer clients the tools they need to effectively manage their trading and actively support connectivity to best-of-breed order management systems, like Charles River IMS.”