Charles River, which provides front- and middle-office investment management solutions, has unveiled an Investment Book of Record offering.

Charles River, which provides front- and middle-office investment management solutions, has unveiled an Investment Book of Record offering.

The IBOR solution integrates real-time positions, corporate actions and reconciliation from back-office systems, fund administrators and custodians with front-office activities.

It will be available for general release in the Version 9.2 series of the Charles River Investment Management Solution, following completion of beta testing with global client partners, the firm said.

“Institutional and wealth managers alike are looking for greater accuracy and transparency throughout the trading day,” said Tom Driscoll, global managing director at Charles River.

“Our fully-integrated IBOR helps clients make better investment management decisions by making sure positions are as up-to-date as possible. By eliminating dependency on back-office systems and consolidating multiple sources of position-related data onto one platform, clients can reduce costs, streamline operations, and improve recordkeeping,” Driscoll said.

The firm described its IBOR offering as a “multi-asset, multi-currency solution,” which combines trade and non-trade transactions for accurate management of current/historical positions and tax lots.

“The IBOR solution can distribute position keeping data to other systems, including those for performance and risk. Corporate action processing, and the ability to schedule cash flow and security lifecycle events, ensure accuracy of overnight position maintenance. In addition, a rules-based reconciliation engine with an exception management dashboard delivers an audit history of transactions and positions,” Charles River said.

It added: “Wealth managers can also benefit by consolidating positions from multiple accounting platforms, and overcoming the deficiencies of legacy systems in supporting newer multi-strategy products, such as unified managed accounts (UMA).”

Charles River serves more than 350 investment firms in 43 countries.