US asset manager implements Charles River IMS

US investment management firm Waddell & Reed and its affiliates have gone live on trading technology firm Charles River’s Investment Management System (IMS).
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US investment management firm Waddell & Reed and its affiliates have gone live on trading technology firm Charles River’s Investment Management System (IMS). The asset manager is also using Charles River’s broker-neutral connectivity network and FIX administration for global electronic trading via FIX.

Waddell & Reed has access to 50 of its preferred broker-dealers through the network, and plans to increase connectivity to 100 sell-side providers in the near future.

Waddell & Reed has implemented the Charles River IMS across its four equity desks: domestic and international securities, derivatives and foreign exchange. This completes the first phase of the asset manager’s three-stage project to implement a centralised system to streamline workflows and improve efficiency in portfolio management, trading and compliance monitoring.

During the second phase, Waddell & Reed will implement the Charles River IMS across its money market desk and the third phase will focus on the firm’s fixed income operations.

“Charles River allows our investment professionals to easily trade and monitor any security in real time – with greater confidence,” said Larry Cipolla, senior vice president and chief operations officer for Waddell & Reed Investment Management Company and affiliated firm Ivy Investment Management Company, in a statement. “Charles River’s services also provide day-to-day system monitoring, rendering ‘real’ savings over the cost of a full-time internal IT resource.”

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