Charles River Development (Charles River), a provider of financial software and services to the global investment management community, and SwapsWire, an electronic network for dealers, inter-dealer brokers, prime brokers and buy-side firms, announced on Tuesday a partnership to deliver automatic trade confirmations for over-the-counter (OTC) interest rate swaps in the upcoming Charles River investment management system (Charles River IMS) version 8.2. Further enhancements and workflow are planned for version 9, says the firm.
"We are pleased to partner with one of the industry's most established post-trade platforms," says Peter Lambertus, president and CEO, Charles River. "Derivatives trading has become an increasingly important component of our clients' daily trading activity. SwapsWire recognises our ability to fully support buy-side clients' needs, including the trading of a wide variety of complex asset classes, such as derivative instruments," he continues.
"SwapsWire is committed to helping clients optimise our services through integrated partnerships with market vendors," explains Chip Carver, CEO, SwapsWire. "We chose to work closely with Charles River as a buy-side integration partner for delivering straight-through processing (STP) for interest rate swaps. Charles River has a broad client base and proven expertise in facilitating STP for OTC derivatives, including credit and interest rate swaps," he continues.