State Street, one of the top 2 global custody banks, is competing with Aladdin and SimCorp Dimension, in the space of front to middle to back office solution.
The company fully acquired Charles River Systems, Inc., or known as Charles River Development (CRD), in October 2018. The latter owns Charles River Investment Management Solution (Charles River IMS). It is a premier front and middle office software.
Following the acquisition, State Street is offering State Street Alpha℠. Charles River IMS serves as the front and middle office component and together with the bank’s middle and back office capabilities, the solution offers formidable alternative to serve the Buy Side world.
As with any other solution, where you have 2 different solutions, you must ensure the integration of both systems work as expected. That means, a lot of testing, functionality test, scenarios test, have to be done.
On sharpening the tool:
On July 2019, CRD deepened the collaboration with MarketAxess, to provide its Auto-X™ service into Charles River IMS. Both firms began their partnership from November 2003.
On March 2019, Charles River entered partnership with Axioma, to integrate Axioma’s portfolio and risk analytics into Charles River IMS.
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