CRD Trader Fixed Income

8/9/2019 CRD Trader Fixed Income

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Charles River Trader

Comprehensive tools to

automate and streamline global

dealing operations and workflow

Charles River Investment Management System

Fixed Income, Fixed Income Derivatives, and Foreign Exchange Securities


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Charles River Trader is the industry's premier

trading and order management system for

dealers and traders and is deployed at many of

the world's leading investment managementorganisations. Designed from inception as a global

system, Charles River Trader provides full

multi-currency capabilities, supports all asset

classes, accommodates customised workflows

and trading desk setups, and allows for 24 X 7global operations.


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Fixed Income, Fixed Income Derivatives, and Foreign Exchange Dealing / Trading

Charles River Trader helps improve investment performance by streamlining and organising

the daily workflow associated with fixed income, fixed income derivatives, and foreign exchange

(FX) trading. The system supports a comprehensive set of global investment instruments, offers

highly configurable workflow capabilities, and integrates with third-party trading platforms to facilitate

electronic trading. A user-configurable blotter presents tools for real-time trading / pricing, quick

security set up, and downstream trade processing. In addition, the system provides comprehensive

analytics through an embedded FINCAD Analytics engine and by facilitating the import of

additional analytics on a beginning-of-day or as-needed basis. Investment managers using Charles

River Trader benefit from a reduction in execution errors, a comprehensive audit trail, and seamless

connectivity to trade execution and settlement systems for straight-through processing (STP).

Designed to support all security types and their associated structures, Charles River Trader

provides the tools necessary to support complex fixed income trading.

Set up multiple customised real-time blotters to meet individual dealer workflow requirements

Easily configure system to accommodate trader and manager as separate workflows or as

one combined function

Transact characteristic-based 'generic' orders utilising dealer bond inventories

Display real-time trade date and / or settlement date cash as well as cash flow forecasting

Create new securities quickly for efficient executions, i.e., without manual security data input

Bonds and Notes

Supports full range of instruments

Track and monitor bids and offers for both individual trades and lists of trades

Extensive support of sovereign and international bonds, including index-linked government bonds

Integrated with execution platforms, including Thomson TradeWeb and MarketAxess, for

seamless electronic execution

Key Benefits Streamline trade order management and minimise transaction costs Reduce data entry errors

Monitor compliance and exposure across an organisation Customise workflows and displays by user Maintain comprehensive audit trail Improve efficiency through electronic integration to third-party trading destinations

Fixed Income

Dealers and traders can customise the Charles River Trader blotter to facilitate fast order entry and access to necessary functions. A dealer can refine virtually all

aspects of the blotter to his or her preferences, including the rapid and automatic completion of bulk activities across large groups of orders.


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Money Markets

Trade on issuer availability limits ('room-in-a-name') and approved issuer lists

Comprehensive pre-trade / post-execution money market (US SEC Rule 2a7) compliance

Integrated with Thomson TradeWeb for seamless money market electronic execution

Quick security set up from pre-defined issuer-counterparty / obligor / guarantor templates and

real-time data from major data sources

Support for repos and reverse repos, including collateral management

Mortgage-Backed Securities / TBAs

Together, Charles River Manager (the portfolio management component of Charles River IMS),

and Charles River Trader offer complete automation for mortgage-backed securities (MBS)

and 'to be announced' (TBA) processing.

Quickly create initial TBA sell transactions, from both the Workbench in Charles River Manager

and the blotter in Charles River Trader, incorporating The Bond Market Association calendar

and standard product codes for creation of the TBA CUSIP and settlement date

Easily generate TBA sell and dollar roll transactions from existing inventory for one or many

accounts using The Bond Market Association calculator in Charles River Manager

Conduct pre-trade, post-execution, and end-of-day compliance on TBA trades and positions

Track original versus net open TBA par at the order level in real time, taking into account full

and partial pool assignments, pair-offs, turns, and forward roll transactions

Efficiently take delivery of TBA pools using Electronic Pool Notification (EPN) or

EaSyPool (ESP) interfaces

Charles River Trader supports numerous derivative structures and can be used to manage

interest rate and credit risk exposure. Dealers can configure a personalised view of the order

entry window to target exact data capture requirements specific to their workflow.

Manage exposure through full range of futures, forwards, and options functionality

Execute single and cross-currency rate swap trades (e.g., asset, interest rate)

Execute single security credit swap trades (e.g., credit default, total return)

Capture standard jurisdictional ISDA Credit Default Definition Agreement terms

Option to leverage FINCAD derivative valuation modules for broad analytic functionality

Fixed Income

Derivatives

In one window, Charles River Trader presents all of the trade, economic, and referential details of a swap transaction,

including the parent security details and those of the two 'legs' of the swap.


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Consolidated FX functionality makes it easy to view unsettled trade exposure or a portfolio's

overall exposure to currency risk, and then execute appropriate strategies efficiently.

Create spot or forward orders quickly using FX dealing window

Trade currency forwards with complete workflow support, including roll requirements

Automatically net settlement currency requirements by account, currency pair, and settlement date

Auto-generate net FX spot orders to cover settlement date cash requirements

Generate currency forward orders automatically to accommodate hedging requirements

Charles River Trader provides comprehensive data and analytics coverage through an embedded

analytics engine and by allowing traders to import additional third-party analytics on a beginning-of-day

or intraday basis. Charles River provides interfaces for major market-leading sources and through

tight integration, traders can feel confident that their data, trades, and analytics are always

synchronised. It is also easy to trade securities that are not already in the Security Master by

simply importing referential and associated analytics data from a variety of market-leading sources on

a single security basis.

Reference Data

Charles River Trader synchronises with numerous reference data sources to ensure traders always

possess correct referential data on a security prior to conducting a trade. Set the synchronisation to

occur on a beginning-of-day basis, and / or refresh data intraday as needed.

Analytics

Leverage the extensive capabilities of the embedded FINCAD Analytics engine across all

instrument types. FINCAD supports traditional instruments and also provides broad derivatives

coverage, including structured options, rate, and credit derivatives. Traders can also import

their preferred analytics from best-of-breed sources such as The Yield Book.

Produce cash flows for fixed income and derivative instruments

Calculate risk measures (e.g., delta, gamma, theta, rho, etc.) and swap analytics

Generate forward and discount curves for valuations

ForeignExchange

Data &Analytics

The Charles River Trader blotter offers extensive FX functionality. Dealers can automatically generate FX spot and forward transactions for trade settlement, deal a group of

trades, and dynamically trade single or multiple currency pairs. Dealers can set the spot rate, points, and deal rate, then execute as a 'done deal' or electronically via FIX.


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Charles River is an industry leader in advancing electronic connectivity standards and offers

embedded electronic FIX (Financial Information eXchange) trading support across all security

types, including fixed income, currencies, and derivatives. Charles River Trader includes

the market-leading CameronFIX engine, integrated interfaces to numerous electronic communication

network (ECN) and alternative trading system (ATS) trading destinations through the Charles

River Network, and supports a wide range of FIX message types, including allocation messages.

In addition, Charles River IMS is FIX-certified with FIX Protocol Limited (FPL).

Send / receive FIX orders, executions, and allocations for all security types

Send FIX orders to numerous fixed income and FX ECNs, ATSs, and broker destinations

Execute single and list orders electronically

Route FIX orders automatically using a customisable rules engine

Send orders directly to counterparties to receive real-time executions

Conduct solicited and unsolicited executions

Charles River Trader automates repetitive trader tasks to increase productivity and streamline

order workflow. For example, a dealer can process an order by simply highlighting the order

and clicking on designated blotter icons to:

Merge, split, cancel, replace, clone, and more

Automatically generate FX spot and forward transactions for trade settlement and hedging

Send orders electronically and automatically receive back multiple-fill executions

View fills and average price and track leaves

Charles River Trader's distributed architecture allows for the following high-speed automatic

trade processing tasks to occur in the background:

Process unsolicited fills and drop copy orders

Import trades or executions from spreadsheets or files

Automatically merge orders when traders take ownership

Compute and display available trade date cash in the blotter

Determine default settlement dates based on exchanges and security types

Calculate execution fees and settlement amounts in multiple currencies using available FX rates

OrderManagement

FIX

Dealers can source live curve data from a set of market providers. In this example, the analytic engine calculates nominal cash

flows of the interest rate swap legs as well as the present value of these cash flows. For multiple currency swaps, two distinct

currency curves can be sourced to value the associated cash flows. Users can also display graphical presentation of the cash flows.


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Charles River Trader supports all securities, workflows, and user preferences through extensive

user-defined customisation options, quick navigation, and flexible system administration facilities.

Create a personal trading environment by setting up multiple, customised trade blotters,

e.g., display preferred columns, sort or group by preference, set up personal icons

Define custom analytics by trader

Configure a personal Workflow Monitor to track or query on any system event or database item

and set up user-defined alerts

Customise any of the 90 real-time reports and graphs, each with dynamic drill-down capabilities

Control allocation methods, order duration, commission type, tolerance values, and other

parameters by setting up default order processing and default order values

Through tight integration with Charles River Post-Trade, the centralised trade processing

component of Charles River IMS, users can take advantage of extensive allocation functionality

and settlement connectivity to increase trade processing efficiencies.

Allocate partially-filled order(s) using pro-rata, random, sequential, manual, and level-off methods

Route completed trades / allocations in real time to accounting, settlement venues, and custodians

Conduct omnibus account trading

Set up and automatically apply matching rules to trades

Automatically communicate broker and custodian settlement instructions

Send FIX allocation confirmation messages to brokers

Send trade data to internal or external systems via rules-based Trade Gateway interface

Use rules-based Trade Gateway to communicate to Omgeo Central Trade ManagerSM (Omgeo

CTM), Omgeo OASYS GlobalSM, or send ISO 15022 messages (optional)

Send trade tickets, bank authorisation letters, electronic faxes, and e-mails directly to

counterparties via AutoFax, e-mail, ASCII files, or by printing

The Charles River Trader blotter includes comprehensive pre-trade and post-execution

compliance monitoring through tight integration with Charles River Compliance, the compliance

component of Charles River IMS. Use of its capabilities saves traders time, reduces exposure,

and lowers overall trading costs. Dealers can quickly run fast, automated compliance checks prior

to execution directly from the trading blotter and use the system to monitor holdings. In the

event of a compliance violation alert, users can drill down to instantly view the account

rules, trade information, security details, positions, and trades contributing to the compliance

calculation. Dealers can then acknowledge the alert or warning, notify others uponcorrection of

the problem, request higher-level approval, or override the alert / warning as

appropriate. The

system also facilitates post-execution testing (immediately after execution but before

allocations are final) to verify compliance.

Charles River Trader is part of the award-winning Charles River Investment Management

System (Charles River IMS) software suite, which includes Charles River Manager for portfolio

management, Charles River Compliance for pre-trade and end-of-day compliance, and Charles

River Post-Trade for centralised trade processing. The system incorporates real-time FIX-

based electronic trading via the Charles River Network, a reliable, secure, private financial

network. The comprehensive front- and middle-office solution helps investmentmanagers

increase efficiencies, mitigate risk, and improve performance through streamlined trade

execution and processing.

Charles River offers a wide range of services to supplement its software, including

Professional Services, Managed Services (remote and hosted application management), and

FIX Network Services.

Compliance

Post-TradeProcessing

WorkflowConfiguration


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Charles River Development

Charles River Development, founded in 1984 and privately held, is a market-leading

provider of software, services, and technology solutions to the global investment

management community. Serving the institutional asset management, mutual fund,

banking, pension, hedge fund, wealth management, and insurance industries,

Charles River combines state-of-the-art and industry-standard technologies to deliver

applications that are open, flexible, scalable, rich in functionality, and easy to use.

The firm complements its award-winning products with comprehensive professional

services, which it delivers through strategic office locations and

partnerships around the globe.

Boston

+ 1 781 238 0099 telephone

+ 1 781 238 0088 fax

London

+ 44 (0)20 7634 3300 telephone

+ 44 (0)20 7634 3301 fax

Melbourne

+ 61 3 9670 5455 telephone

+ 61 3 9670 5411 fax

Paris

+ 33 (0) 1 53 43 90 48 telephone

+ 33 (0) 1 53 43 90 68 fax

Singapore

+ 65 6435 8011 telephone

+ 65 6557 0572 fax

[email protected]

www.crd.com

All trademarks are the property of their owners.

CRD Trader Fixed Income

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