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Charles River and LedgerEdge Announce Collaboration to Provide DLT-Enabled Corporate Bond Liquidity and Trading Services
Rhea-AI Impact
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Rhea-AI Sentiment
(Very Positive)
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Rhea-AI Summary
Charles River Development, a State Street Company, announced a collaboration with LedgerEdge to enhance corporate bond trading. This partnership enables investment firms to access liquidity in the $41 trillion global corporate bond market through the Charles River Inventory Hub and Order and Execution Management System (OEMS). The initiative aims to reduce execution costs and improve trading transparency, allowing clients better control over data and insights into liquidity and execution quality.
Positive
Collaboration with LedgerEdge provides access to liquidity in a $41 trillion market.
The initiative improves data governance and enhances visibility into trading decisions.
Traders can reduce execution costs and facilitate price discovery using the integrated tools.
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None.
BOSTON--(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.
What is the significance of the partnership between State Street and LedgerEdge?
The partnership allows State Street to provide investment firms access to liquidity in the $41 trillion corporate bond market, enhancing trading efficiency.
How does the Charles River Inventory Hub support bond trading?
It offers an aggregated view of liquidity, helping traders reduce execution costs and enhance price discovery.
