CHARLES RIVER ADDS UBS ALGORITHM TO INVESTMENT MANAGEMENT SYSTEM

Posted July 28, 2009

BOSTON – Investment software and services provider Charles River Development has integrated its Investment Management System (IMS) with UBS Perimeter, a new US algorithm that allows clients to trade outside of regular market hours. UBS Perimeter allows Charles River IMS clients to work orders in the market based on a variety of desired parameters and urgency levels.

“We’ve offered integrated algorithmic trading strategies for a number of years,” says Tom Driscoll, Vice President, Sales and Marketing, Charles River Development. “Our partnership with UBS expands our offering, allowing clients to take advantage of the unique suite of UBS algorithms directly from the Charles River Trader blotter.”

UBS is one of over 40 algorithmic brokers with more than 500 algorithmic strategies integrated with Charles River IMS. Charles River clients can customize vendor-supplied algorithms in real time, as well as execute multiple strategies simultaneously. Charles River’s meta-driven infrastructure allows clients to take advantage of customized sell-side algorithms, or access new liquidity destinations, without the need for additional software upgrades.

“Our clients have asked us for innovative ways to intelligently participate in the pre-open, the open, and the close, so we created a unique strategy to help them do that in a way that meets a variety of goals,” says Owain Self, Head of Algorithmic Trading for the Americas and EMEA, at UBS. “Charles River worked with us to quickly and efficiently deploy this new strategy in a very user-friendly way. It is a great demonstration of how our powerful partnership can deliver real benefit to clients.”