Charles River Development (Charles River), the provider of technology systems and services, say that 2006 was its sixth consecutive year of double-digit revenue and net-income growth. The firm says it has added 56 new clients and 29 substantive expansions of business with existing clients. They have also brought 50 new clients live on the Charles River Investment Management System (Charles River IMS), a front- and middle-office software suite for asset classes and security types including credit and other derivatives.
“These results speak to Charles Rivers’ continued investment in research and development, which has allowed us to deliver products and services that help clients excel in a demanding marketplace,” says Peter Lambertus, the president and CEO at Charles River Development. “Our new service oriented and multi-tiered architecture, coupled with continuous new functionality, maintains our positioning as a market leader.”
In 2007, Charles River aims to complete its technology migration with the release of Version 9 which will feature fully integrated execution management (EMS) capabilities, additional analytics, expanded derivatives functionality and foreign exchange (FX) mechanisms, as well as increased scalability and operational performance.
Charles River won multiple awards in 2006, such as: Financial News’ “Buy Side Software Leader for the 21st Century,” Waters’ “Best Portfolio Management Solution,” Financial-i’s “Most Innovative Order Management System,” and a ranking in Securities Industry News’ “Technology 50” for front-office providers.