Charles River using Finsemble to expand third-party application integration

Dan Barnes

Charles River Development, the State Street owned order and investment management system (O/IMS), is collaborating with Cosaic, to use the latter’s Finsemble platform to streamline integration of third-party applications into the Charles River IMS. Finsemble helps asset managers to connect their applications together, including modern or legacy, in-house or third-party tools, by providing investment professionals with access to data from Charles River IMS.

Built on the Financial Desktop Connectivity and Collaboration Consortium (FDC3) protocol, Finsemble standardises how applications communicate, without using pre-defined inter-application workflows ahead of deployment. FDC3-enabled applications can participate in desktop workflows without any coding or manual integration, enabling faster deployment of new applications and extending the lifetime of legacy applications.

Mike Beattie, Charles River Development

“Investment firms increasingly look to on-board the latest technology for risk management, trading and portfolio construction in response to changing investor demands and regulatory obligations. Finsemble’s innovative platform enables our customers to embed approved partners and workflows into Charles River IMS, accelerate time-to-market and enable their front-office teams to work more efficiently from a unified desktop,” said Michael Beattie, director of product strategy at Charles River Development.

Dan Schleifer, CEO of Cosaic, and co-founder of ChartIQ, says, “Incorporating Finsemble will enable Charles River customers to integrate new technology and services faster, independent from Charles River’s release cycle, and help eliminate the need for proprietary application programming interfaces (APIs) and lengthy implementations.”

This expands on the collaboration launched in 2020, which incorporated Cosaic’s ChartIQ application into Charles River IMS, giving institutional traders access to visualisation tools for data affecting investment decisions.
Charles River IMS serves as the front- and middle-office component of State Street Alpha, which provides many global investment managers, hedge funds, asset owners and insurers with a front-to-back solution to help manage risk management, portfolio construction, trading, compliance, post-trade and back office services.