FXall and Charles River Development have formed an alliance to offer an integrated foreign exchange workflow solution. The solution completely automates the FX trade lifecycle, from pre-trade to execution and post-trade, including portfolio management and trade confirmation.
Under the agreement, FXall and Charles River will work together to deliver straight-through processing to clients, interfacing trades executed on FXall with Charles River Investment Management System (Charles River IMS) and allowing clients to receive fully automated prices direct to their workstations. This link, which employs the FIX messaging protocol, will eliminate manual processing for the complete FX transaction lifecycle, reducing risk, slashing costs and speeding up processing times. The service will be available to all Charles River customers.
Peter K. Lambertus, CEO and President of Charles River, says: “Achieving straight-through processing throughout the trade lifecycle is a priority for all our asset management clients, as are best execution and access to a wide range of counterparties. Partnering with FXall will enable us to deliver on every count, streamlining the transaction process and giving clients access to automated pricing from 47 leading liquidity providers.”
Charles River is a market leader in global order management, portfolio management, and real-time compliance systems. Its product suite, Charles River IMS, includes Charles River Manager, Charles River Trader, and Charles River Compliance. FXall is the global leader in online foreign exchange trading with institutional clients. The combination of automated trading tools and the post-trade processing services of Settlement Center have helped establish FXall’s leadership position in the market.
The alliance with Charles River is the latest development in FXall’s Partner Channel Program, which aims to ensure end-to-end integration with portfolio and treasury management solutions. The Partner Channel program is part of FXall’s broader commitment to automating the foreign exchange trading process between market participants regardless of client segment, geographic location, workflow or trade protocol. By connecting to FXall, providers have instant, cost-effective access to support all of their trading relationships, no matter what protocols or systems the customers prefer.
Jack Lemonik, CTO of FXall and co-chair of the FIX FX Working Group, says: “Our focus on integration is at the heart of our success. By working alongside leading solutions vendors like Charles River we can ensure that systems link seamlessly to the FXall platform. We are delighted to be working with Charles River to deliver straight-through processing to their clients, and remain committed to extending the benefits of automation to all asset managers.”
The integrated solution will be available in Version 8 of the Charles River Investment Management System.