Phase One, delivered on-time and on-budget, is the initial stage of a three-phase project which is part of Waddell & Reedâs initiative to implement a centralized system to streamline workflows and gain significant efficiencies in portfolio management, trading and compliance monitoring. The implementation completes the Phase One rollout of Charles River IMS across Waddell & Reedâs four equity desks, including domestic and international securities, derivatives and foreign exchange (FX). During the next phase, Waddell & Reed will implement Charles River IMS across its money market desk, while Phase Three will focus on its fixed Income operations.
Waddell & Reed is using Charles Riverâs Application Management outsourced solution, based on clientsâ unique needs. Waddell & Reed receives 24x7 application management and support, including alert notification, performance monitoring and tuning and user administration.
âAs a fundamental investment management firm, we are continually focused on achieving long-term success,â said Larry Cipolla, Senior Vice President and Chief Operations Officer for Waddell & Reed Investment Management Company and Ivy Investment Management Company. âCharles River allows our investment professionals to easily trade and monitor any security in real time â with greater confidence. Charles Riverâs services also provide day-to-day system monitoring, rendering ârealâ savings over the cost of a full-time internal IT resource.â
The Charles River Network, which is fully integrated with Charles River IMS, directly connects Waddell & Reedâs traders to its sell-side brokers and other global trading venues â allowing them to handle larger trade volumes, gain new FIX capabilities across multiple asset classes and access algorithmic strategies of their choice and new liquidity destinations. Waddell & Reed subscribes to Charles Riverâs FIX Administration for proactive administration, monitoring and support of FIX software and connectivity.