Eagle Investment Systems has become a member of Charles River Development’s (CRD’s) partner integration certification program. The certification is based largely upon the development of standardized interfaces between the Charles River Investment Management System and Eagle PACE and Eagle STAR.
The interface between the platforms provides a bi-directional flow of reference and accounting data and enables the buy side to simplify and reduce the total cost of post-trade operations for equity, fixed income and exchange-traded swaps. The integration between the Charles River and Eagle systems was the logical next step in a long-standing relationship between the two companies, according to the vendors.
“We have consistently heard from clients and prospects that integration with Charles River Development is high on their list of priorities; therefore, Eagle made the integration a high priority on our list for standard interface development,” says Electra Govoni, development manager, data management for Eagle Investment Systems. “CRD released IMS V8.0 at the end of 2005 with additional functionality and expanded messaging capabilities; these enhancements prompted us to revisit the integration between CRD’s IMS and Eagle’s products.”
“Charles River IMS and Eagle PACE/STAR are highly configurable and dynamic systems which support a variety of asset classes. After years of experience working together with numerous clients, Charles River and Eagle created a partner-approved integration across all of the asset classes supported by both companies. This integration allows new shared clients to benefit from a potential plug-and-play scenario, as well as from simplified upgrades of future product releases from both companies,” says Stephen Engdahl, director, product management, Charles River Development.
Charles River and Eagle mapped out the variety of workflows that run between the two systems, as well as identifying every data element that flows between the two products. Once the data and workflow mapping was complete, the companies carried out development and testing. For the integration of Eagle PACE/STAR the initial process took around 12 months, during which time both companies worked with joint clients and prospects to validate the certification.
“For shared clients, the level of verification that the programme provides reduces the total cost of ownership for both systems in terms of reduced implementation and overall operation costs. Working closely with partners during implementation and support also gives clients a unified view that streamlines resolution of any issues that may arise,” continues Engdahl.
“Clients can leverage the standard and consistent interface developed by CRD and Eagle subject matter experts, thus allowing clients to utilize best practices from both vendors. The standard interface will allow for faster time to delivery and will reduce both implementation and support costs,” concludes Govoni.