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Charles River
The acquisition
Charles River by State Street in
Reliability
and of
Availability
a $2.6 billion in July this year was a landmark deal in
Latency
the EMS space, not least because of the size of the fee
involved.
Charles Personnel
River has been one of the foremost
Client
Service
vendors
in
the
front-office
space for a number of
Ease-of-Use
years through its solutions portfolio, and the EMS
Handling
of New
survey mainstay
saw Versions/Releases
a 12% increase in the number
of responses
received
year-on-year for the 2018
Breadth
of it Broker
Algorithms
edition.
Timeliness of Updates for Broker Changes
However, there will be plenty of work ahead for
FIX
Capabilities
Charles
Rivers’ new owners according to its scoring
this
year, as
firm Class
recorded
the lowest average
Breadth
of the
Asset
Coverage
score
of
all
the
major
providers
profiled
(4.83), well
Breadth of Direct Connections
to Venues
below the survey-wide average of 5.56. The vendor
Product
Development
failed to score
above 5.00 in eight of the 13 catego-
ries under
review, lagging
behind its Systems
competitors in
Ease
of Integration
to Internal
Overall Cost of Operation
2018 2017
4.47 4.21
almost every
area. Despite 5.26
these low scores, Charles
5.14
River did record increased year-on-year scores in
4.45 most significantly
5.02 in the breadth of
eight categories,
broker algorithms
category,
which increased by 0.79
4.2
4.35
on last year’s
score.
4.91
4.82
Around two-thirds of respondents for Charles River
4.13
4.17 of assets, spread even-
manage more
than $50 million
ly across North
and the United Kingdom.
5.26 American 4.47
Respondents
were
mainly
from the institutional
4.89
4.55
and long-only sectors, with a variety mix of activity
5.34 income and foreign
across listed 5.49
derivatives, fixed
exchange. The
majority
of
respondents did not plan
5.26
5.09
to onboard 5.27
additional EMS
providers or switch pro-
5.06
viders entirely; however given how respondents have
4.53 River, State 4.51
scored Charles
Street may have work
ahead of them
to keep the 4.95
system’s user base happy.
4.76
5.14
5.26
Reliability and Availabili ty
4.45
Latency
5.02
4.2
4.35
Client Service Pers onnel
4.91
4.82
Eas e-of-Use
4.13
4.17
Handling of New Versions/Releases
Breadth of Broker Al gorithms
5.26
4.47
Timeliness of Updates for Broker Changes
4.55
4.89
5.49
5.34
FIX Capabiliti es
Breadth of Asset Class Coverage 5.26
5.09
Breadth of Direc t Connec tions to Venues 5.27
5.06
4.53
4.51
Product D evelopment
4.76
4.95
Eas e of Integration to Internal Sys tems
Overall Cost of Operation
0.00
4.21
1.0 0
2.00
3.00
20 18
4.0 0
4.47
5.00
6.0 0
7.00
20 17
Issue 57 // TheTradeNews.com // 71