Investment managment software provider, Charles River Development announced that its global, full-service Financial Information eXchange (FIX) network solution, the Charles River Network, continues to gain momentum as a preferential new option for global FIX connectivity.
Over 125 sell side brokers and 30 Charles River Investment Management System (Charles River IMS) clients have joined the network since its launch in July 2005; the firm is in the process of signing up another 75 brokers and 50 Charles River IMS clients. The network is available for equity, fixed income and foreign exchange trading via FIX and its participants currently span over 10 countries.
The Charles River Network, built on the BT Radianz global backbone, bases its FIX Network Service on a direct-connect FIX network architecture and is an optional offering for Charles River IMS clients.
Charles Rivers full service approach helps participants leverage the full functionality inherent in the industrys standard messaging protocol by facilitating the customization of FIX counterparty messages as needed.
The reality is that most of our broker endpoints require a certain level of customization,” said Grover Heintz, VP Technology at Loomis Sayles. “The point-to-point connections maintained and certified via the Charles River Network make it easy for us to run different versions of FIX and customized message formats with the different endpoints.”
Charles River provides one-stop access to Charles River IMS software support and, through its FIX Network Service, global FIX trading destination connectivity, complete FIX software administration, testing and certification, and global connectivity management and support.
Participants are pleased with the breadth of global endpoints provided via the BT Radianz network with over 10,000 available in Europe, Asia and the U.S., said Michael Hayes, director of Alliances and Connectivity at Charles River. Unlike some of our competitors, we do not force our customers to trade on our network.”