BURLINGTON, MA, LONDON, MELBOURNE and SINGAPORE, November 14, 2005 â Charles River Development today announced that it ranked 64th on the second annual American Banker/Financial Insights FinTech 100. The FinTech 100 is a listing of the top 100 global technology and service providers in the financial services industry and is sponsored by American Banker, SourceMediaâs publication for banking and financial services professionals, and Financial Insights, an independent research services firm owned by IDC. Charles River, a leading provider of financial software and services to the global investment management community, was one of 30 privately held companies to make the list; of those, Charles River ranked seventh. This is Charles Riverâs second consecutive ranking on the FinTech 100.
The firmâs market leading Charles River Investment Management System (Charles River IMS) is a comprehensive front- and middle-office software suite for portfolio management and modeling (Charles River Manager), order management and electronic trading (Charles River Trader), real-time compliance monitoring (Charles River Compliance), and centralized post-trade communications (Charles River Settlements). Selected by the worldâs leading investment management firms and deployed in 25 countries on four continents, Charles River IMS helps to streamline workflow, increase operational efficiencies, and mitigate risk.
"In such a competitive market environment, we are pleased to be recognized for our continued leadership and financial stability," said Peter Lambertus, president and CEO of Charles River Development. "To succeed in this space, many firms are seeking acquisition or merger as a means of bolstering their capabilities and performance. Charles River, on the other hand, remains a successful, growing, independently owned order management system vendor and as such, we are able to take a market-driven approach. We are able to maintain focus on our clientsâ needs and priorities, nimbly deliver functionality critical to the investment management process, and provide high levels of customer service â all while maintaining broker-neutrality.
"As a result, we continue to see strong interest in our products and services worldwide. Today we service over 185 investment managers across the globe and recently signed our 47th new customer contract for 2005," he said.
In creating the FinTech 100, American Banker and Financial Insights began by evaluating those vertical technology companies that derive more than one-third of their total annual revenues from sales to financial services industry clients. Financial Insights then analyzed and verified these companiesâ data, in many cases developing estimates on a range of industry sources, to create a ranked list based in order of their total 2004 financial services industry revenues.
Other recent Charles River awards include: 2005 Best Buy Side OMS from Waters magazine reader rankings; 2005 Best Portfolio Management System from Waters magazine reader rankings; and 2005 Best Compliance System from Global Investor magazine.