Charles River and LedgerEdge Announce Collaboration to Provide DLT-Enabled Corporate Bond Liquidity and Trading Services
February 09 2022 - 8:00AM
Business Wire
Charles River® Development, a State Street Company, today
announced a collaboration with LedgerEdge to provide investment
firms with access to corporate bond liquidity from the LedgerEdge
ecosystem via the Charles River Inventory Hub and Order and
Execution Management System (OEMS).
LedgerEdge leverages distributed ledger technology (DLT) to
modernize institutional-grade trading services and protocols in the
$41 trillion global corporate bond market. Clients exercise full
control of their data while gaining greater clarity into available
liquidity, counterparties and execution quality.
Charles River’s Inventory Hub delivers an aggregated, venue and
dealer agnostic view of liquidity that helps firms reduce execution
costs and facilitate price discovery. Traders can view inventory in
the OEMS, receive updated indications of interest and quotes, and
place orders for a full range of products.
“As we launch our platform, we are delighted to be partnering
with Charles River in delivering an integrated trading workflow
that can support analytics and transaction cost analysis to help
inform traders managing complex, high touch trades,” said David
Nicol, CEO and Co-Founder of LedgerEdge. “Our mission at LedgerEdge
is to transform trading, and this collaboration with a leading OEMS
provider helps deliver on that promise.”
“We are excited to collaborate with LedgerEdge, providing our
clients with access to innovative new trading protocols, improved
data governance and ownership, and better visibility into trading
decisions,” said Michael Beattie, Director of Product Strategy,
Charles River Development. “As corporate bond markets continue to
grow in size and complexity, accessing liquidity from the
LedgerEdge ecosystem will help clients contain trading costs and
reduce information leakage while gaining deeper insight into the
venues, brokers and liquidity providers they interact with.”
Among other innovations, LedgerEdge enables traders to describe
the conditions under which an order will be revealed, adding logic
to assess potential matches. This helps reduce market impact and
targets where liquidity is displayed. The LedgerEdge ecosystem
includes many of the leading global banks, asset managers, and
market makers.
About LedgerEdge
LedgerEdge was founded in 2020 by an expert team of financial
market and technology professionals to solve the fundamental
challenges of discovering liquidity and executing trades without
harmful data leakage in the corporate bond market. With the
foundation of a distributed technology architecture, it will
deliver a fundamentally better ecosystem and experience for finding
data, sharing data, and executing trades. For more information,
please visit www.ledgeredge.com or our LinkedIn or Twitter
pages.
About Charles River, A State Street Company
Investment, wealth and alternative managers, asset owners and
insurers in 30 countries rely on Charles River IMS to manage USD
$36 Trillion in assets. Together with State Street’s middle and
back office services, Charles River’s cloud-deployed front office
technology forms the foundation of State Street Alpha℠. Charles
River helps automate and simplify the investment process across
asset classes, from portfolio management and risk analytics through
trading and post-trade settlement, with integrated compliance and
managed data throughout. Charles River’s partner ecosystem enables
clients to access the data, analytics, application and liquidity
providers that support their product and asset class mix. We serve
clients globally with more than 1,000 employees in 11 regional
offices. (Statistics as of Q4 2021)
About State Street Corporation
State Street Corporation (NYSE: STT) is one of the world's
leading providers of financial services to institutional investors
including investment servicing, investment management and
investment research and trading. With $43.7 trillion in assets
under custody and/or administration and $4.1 trillion* in assets
under management as of December 31, 2021, State Street operates
globally in more than 100 geographic markets and employs
approximately 39,000 worldwide. For more information, visit State
Street's website at www.statestreet.com.
*Assets under management as of December 31, 2021 includes
approximately $61 billion of assets with respect to SPDR® products
for which State Street Global Advisors Funds Distributors, LLC
(SSGA FD) acts solely as the marketing agent. SSGA FD and State
Street Global Advisors are affiliated.
©2022 State Street Corporation – All Rights Reserved
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Mary Masi-Phelps marymasiphelps@crd.com 781-425-6155
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