Charles River Forms an Alliance with Lava Trading to Provide Investment Managers with Liquidity Access.Business Editors BURLINGTON, Mass.--(BUSINESS WIRE)--Aug. 4, 2003 Charles River Charles River River, eastern Massachusetts, U.S. The longest river wholly in the state, it flows into Boston Bay after a course of about 80 mi (130 km). Navigable for about 7 mi (11 km), its estuary separates the cities of Boston and Cambridge. Development today announced an alliance with Lava Trading to incorporate Lava's direct access trading Direct access trading is a technology which allows stock traders to trade directly with market makers or specialists, rather than trading through stock brokers.[1] capabilities into the Charles River Investment Management System (Charles River IMS (1) See IP Multimedia Subsystem. (2) (Information Management System) An early IBM hierarchical DBMS for IBM mainframes. IMS was widely implemented throughout the 1970s under MVS and continues to be used under z/OS. ), a global, integrated portfolio management, order management and compliance system for investment managers. Charles River is a leading provider of financial software and consulting services to the global investment management, banking, pension and insurance industries. Lava Trading is a leading software developer of financial technology for large securities trading securities trading, financial activity involving transactions of property such as stocks, bonds, commodities, and currency (see securities). Although the trading of stocks and bonds dates back several centuries in many Western nations, the development of the floors. Charles River clients will now have a seamless blotter-to-blotter solution, with access to Lava's patented technology, including the Lava Trading Floor(R) and Lava ColorBook(R) directly from Charles River IMS. They will receive full depth of book, intelligent order routing and direct connectivity to all major pools of liquidity, including Nasdaq, Listed exchanges, ECNs and ATSs. In addition, the interface supports a variety of workflows by providing traders with the flexibility to initiate an order from either system's blotter A written record of arrests and other occurrences maintained by the police. The report kept by the police when a suspect is booked, which involves the written recording of facts about the person's arrest and the charges against him or her. BLOTTER, mer. law. . "In our strategy to provide liquidity solutions, Lava was a logical choice," said Peter Lambertus, Charles River President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "Direct access capabilities increase efficiencies of trader work flow, and we will continue to incorporate other electronic trading technology solutions in an effort to offer our clients choice and flexibility." "The interface between Charles River and Lava will make it easier and more efficient for us to access liquidity," said Marc Nield, Executive Director, Schroder Investment Management. "The seamless blotter to blotter interaction eliminates the need for double order entry and results in increased operational efficiencies and a reduction in errors." "We are pleased to put our leading technology in the hands of buy-side traders through a proven buy-side OMS OMS - Opportunity Management System vendor using our multi-broker solution," said Richard Korhammer, Chairman and CEO, Lava Trading Inc. "Charles River has an impressive base of world-class clients, and this relationship is consistent with our strategy of working with leading buy-side solutions." About Charles River Development Charles River Development is a provider of financial technology and consulting services to the global investment management, banking, pension, and insurance industries. By combining state-of-the-art and industry-standard technologies, Charles River delivers applications that are open, flexible, scalable, rich in functionality, and easy-to-use. The Charles River Investment Management System (Charles River IMS) is a comprehensive, integrated, front and middle office suite for all security types. Each of the suite's three components is available as a standalone application: Charles River Manager offers sophisticated tools for portfolio management including "what if" analysis, modeling, portfolio rebalancing Rebalancing The process of realigning the weightings of one's portfolio of assets. Notes: For example, if your portfolio's proportion of stock has grown too large for your intended assets weightings and risk tolerance, you might rebalance by selling some stock and putting , and order generation; Charles River Trader provides order management, electronic trading, and liquidity access; and Charles River Compliance offers global, real-time, pre-trade, post-trade, and portfolio-level compliance monitoring. Charles River IMS supports 24X7 operations and facilitates downstream trade processing via embedded links to VMUs, custodians, and settlement facilities. Message-based APIs and exposed Web Services allow for rapid systems integration. Founded in 1984 and privately held, Charles River serves over 105 clients worldwide and maintains offices in Burlington, MA, Chicago, London, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , San Francisco, Singapore, and Sydney. www.crd.com About Lava Trading Inc. Lava Trading is an innovative technology company that develops high-performance solutions for large securities trading floors and operates as a Specialized Application Service Provider (SASP SASP Separation and Airspace Safety Panel SASP State Agencies for Surplus Property (distribution of government surplus property) SASP Small Arms Serialization Program SASP Special Ammunition Supply Point SASP Surface Air Sampling Program ) for its clients. Lava's systems are designed to lower transaction costs Transaction Costs Costs incurred when buying or selling securities. These include brokers' commissions and spreads (the difference between the price the dealer paid for a security and the price they can sell it). and boost trading desk Trading Desk A desk where transactions for buying and selling securities occur. Trading desks can be found in most organizations (banks, finance companies, etc.) involved in trading investment instruments such as equities, fixed-income securities, futures, commodities and foreign productivity by offering comprehensive functionality and connectivity to all major liquidity sources, including Nasdaq, Listed exchanges, ECNs and ATSs. Through its patented, innovative technology and capital markets expertise, Lava creates value-added products that combine speed, intelligence and reliability. Lava facilitates the trading of approximately 300 million shares a day and supplies its systems to market makers, broker/dealers, hedge funds and institutional investors, including most of the top 20 U.S. investment banks. For more information, visit www.lavatrading.com. |
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