State Street’s Charles River has integrated its investment management system (IMS) with the request-for-quote (RFQ) off-venue interest rate derivatives platform, OTCX.
Through the certified integration, Charles River clients can now connect directly to dealers through the OTCX platform with reduced operational risk trading via voice, chat, or email.
Charles River IMS users can also request prices and negotiate fix-float interest rate swaps, overnight index swaps, and inflation swaps across G10 and emerging market currencies.
“We’re delighted that OTCX is now certified on our investment management platform,” said Michael Beattie, director of product strategy at Charles River Development. “Collaborating with trading platforms such as OTCX enables us to extend our solutions by providing clients with access to essential trading interfaces.”
State Street has launched several integration initiatives for its Charles River IMS in the last year as it looks to improve its client offering.
Most recently, it partnered with Broadridge’s artificial intelligence-powered corporate bond trading platform, LSTX, to allow its clients to digitise workflows for improved liquidity, efficiency, and best execution for illiquid corporate bonds.
Prior to this, IMS was shifted onto Microsoft Azure cloud to boost its computing capacity to serve clients. State Street also teamed up with ChartIQ to provide institutional traders using its IMS with greater insight into data for investment and trading decisions.
“We are looking forward to continuously bringing value to our mutual clients by expanding the integration coverage and defining new OTC trading standards across rates, credit, equity and commodities,” said Nicholas Leib, head of product at OTCX. “The next stage of our collaboration with Charles River will include certifying cross currency swaps.”