Market Overview

Charles River Forms Business Alliance with Broadridge to Enable Clients to Reduce Risk and Improve Productivity


Expands SWIFT Capabilities in Charles River IMS

Charles River Development and Broadridge Financial Solutions, Inc.
(NYSE:BR), have formalized a business alliance to enable better
integration with the SWIFT network in the Charles River Investment
Management Solution (Charles
River IMS

The recent SEC mandate to decrease settlement times from T+3 to T+2 is
designed to enhance efficiency, reduce risk, and ensure a coordinated
and expeditious transition to a shortened settlement cycle. With the
migration to T+2, asset managers are challenged to manage settlement
risk and ensure accurate records with custodians and prime brokers.
Broadridge's SWIFT solution, which is used by more than 100 clients
globally, accelerates the adoption of industry standard ISO formats to
facilitate timely settlement and accurate start of day positions in the
Charles River IMS. Broadridge will support unlimited routing choices to
send and receive messages across the SWIFT network, while Charles River
will generate messages in ISO 15022/20222 formats, process
SWIFT-formatted replies from custodians, and provide seamless
application workflow support.

Together with Charles River's collateral management, post-trade
processing and settlements, IBOR, and GIPS-compliant PMA, expanded SWIFT
messaging support provides investment managers and asset owners with a
complete middle office solution, enabling clients to take advantage of a
single system to manage their entire trade life cycle using automated
straight through processing (STP).

"At Broadridge we drive innovation and develop solutions that allow our
clients and business partners to get ahead of today's challenges and
capitalize on tomorrow's opportunities," said Alastair McGill, General
Manager, Broadridge. "As a leading SWIFT partner and global service
bureau provider, we will enable Charles River's buy-side clients to
seamlessly integrate with the SWIFT network. Additionally, the highly
configurable workflow and routing options within FinMApp ensure we can
optimize Charles River's clients' operational processing to deliver
significantly improved control."

"We have been working with leading providers of messaging and collateral
management services to complete our middle office solution," said Peter
Lambertus, CEO, Charles River. "The alliance with Broadridge is an
important step forward to help our clients reduce settlement risk and
improve middle office productivity."

The alliance ensures Charles River's buy-side clients can use SWIFT
messaging to notify custodians of incoming trades, receive notifications
from custodians confirming trade settlement, notify custodians of
collateral transfer for margin calls and facilitate the transmission of
start-of-day positions and transactions from custodians into the Charles
River Investment Book of Record (IBOR).

About Broadridge
Broadridge Financial Solutions, Inc.
(NYSE:BR), a $4 billion global fintech leader and member of the S&P 500,
provides investor communications and technology-driven solutions for
broker-dealers, banks, asset managers and corporate issuers globally.
Broadridge's investor communications, securities processing and managed
services solutions help clients reduce their capital investments in
operations infrastructure, allowing them to increase their focus on core
business activities. With over 50 years of experience, Broadridge's
infrastructure underpins proxy voting services for over 50 percent of
public companies and mutual funds globally, and processes more than $5
trillion in fixed income and equity trades per day. Broadridge employs
approximately 10,000 full-time associates in 18 countries. For more
information about Broadridge, please visit

About Charles River
Institutional, wealth, asset owner and
alternative investment firms use the Charles River IMS to manage more
than $25 Trillion in assets. The Charles River IMS is delivered in a
private cloud via Software as a Service (SaaS) and includes portfolio
decision support, order management, trading, compliance, post-trade
settlement, IBOR, performance measurement and attribution, risk,
collateral management, data provisioning, data management and other
front and middle office capabilities.

Headquartered in Burlington, Massachusetts, Charles River supports over
300 clients in more than 40 countries with 750 employees in 11 regional
offices. For more information, please visit

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