Integrated Solutions Create Seamless Trade Settlement to Meet
MONTREAL and TORONTO, Jan. 22 /CNW/ - CanDeal, the leading online
marketplace for Canadian debt securities, and Charles River Development, an
award-winning provider of financial software and services to the global
investment management community, are extending a strategic initiative that
integrates the Charles River Investment Management System (Charles River IMS)
and CanDeal marketplace to help Canadian buy-side firms address National
Instrument 24-101 (NI 24-101) and other regulations by automating trade
NI 24-101 was introduced in 2007 by the Canadian Securities
Administrators as a framework for ensuring more efficient and timely
settlement processing of trades. According to Jayson Horner, Co-founder and
CEO of CanDeal, the integration with Charles River IMS is consistent with the
spirit of the regulation and reflects its objectives in market practice.
"Current market conditions point to an industry need for improved governance
and efficiency in all aspects of the investment management process. Risk
management has emerged as the industry's top priority. Our complementary
solutions help fiduciaries evolve their compliance processes and adopt the
highest standards of practice available."
"We have a substantial Canadian client base of more than 20 buy-side
firms and understand the unique requirements of this market," says Tom
Driscoll, Vice President, Sales and Marketing, Charles River Development.
"Since the introduction of NI 24-101, the ability to facilitate same-day
affirmation of trade results has been more important than ever for our
Canadian clients. Charles River IMS automates the entire trade life cycle from
portfolio management to settlement, helping clients gain efficiencies while
reducing costly errors and failed trades. The system's integration with
CanDeal meets our Canadian clients' growing demand for enhanced trading tools
and liquidity solutions to facilitate best execution."
Dale MacMaster, Director, Fixed Income at Alberta Investment Management
Corporation says "the combination of these two market leaders into a single
integrated solution has allowed AIMCo to exceed our fiduciary obligations to
The integration of Charles River IMS and CanDeal's marketplace creates a
seamless end-to-end trade and trade processing solution that places best
practices at the forefront - defining the dealing environment, moving
compliance upstream, facilitating superior price discovery and trade
execution, crystallizing trades in comprehensive transaction records, and
allowing for real-time risk measurement and assessment. Notice of execution,
allocation, instruction, trade matching, affirmation and settlement can all
occur within seconds of a trade.
CanDeal is the leading online marketplace for Canadian dollar debt
securities (www.candeal.ca). CanDeal provides online access to the largest
pool of liquidity for Canadian government bonds and money market instruments.
CanDeal's marketplace is available to institutional investors in Canada, the
United States and Europe.
CanDeal offers Canadian institutional investors and investment dealers
online access to liquidity in 15 debt and derivative marketplaces operated by
Tradeweb in the United States, Europe and Asia.
About Charles River Development
Charles River Development is an award-winning provider of technology
systems and services to over 310 investment firms in the institutional, mutual
fund, banking, hedge fund, wealth management, insurance and pension
industries. The Charles River Investment Management System is a comprehensive
front- and middle-office software suite for all asset classes that includes:
Charles River Manager for portfolio management and modeling; Charles River
Trader for order management and electronic trading; Charles River Compliance
for real-time pre-trade and end-of-day compliance; and Charles River
Post-Trade for the centralized management of trade matching, confirmation, and
settlement workflow. The system incorporates global real-time electronic
trading via FIX (Financial Information eXchange) through the Charles River
Network, a broker-neutral financial network that is fully integrated with
Charles River IMS.
Charles River IMS features a modern, proven, N-Tier service oriented
architecture (SOA) that is highly scalable and supports continuous 24x7
operations. Message-based APIs and exposed Web Services facilitate rapid
The company also offers implementation and managed services (hosted and
remote application management). Founded in 1984, Charles River maintains
headquarters in Boston and primary offices in London, Melbourne, New York,
Paris, Singapore and Tokyo.
For further information:
For further information: Tristan Michela, Executive Vice President,
CanDeal, (416) 814-7803, www.candeal.ca