Charles River, a front- and middle-office investment management solutions provider, has introduced a direct interface between the Charles River Investment Management Solution Version 220.127.116.11.3 (Charles River IMS) and MarkitSERV MTM which helps clients comply with mandatory clearing requirements for newly executed over-the-counter (OTC) derivatives under the Dodd-Frank Act.
The Dodd-Frank requirement for central clearing of OTC derivatives is designed to reduce systemic risk in the financial markets.
Charles River’s new integration ensures greater accuracy and transparency by allowing clients to submit interest-rate swaps (IRS), credit-default swaps (CDS) and CDS Index trades directly to MarkitSERV MTM. Clients can monitor the matching and clearing status within Charles River IMS as contract details are matched at MarkitSERV and trades are cleared through the Center Counterparty (CCP).
"The interface gives clients confidence that they are complying with one of Dodd-Frank’s most critical components for regulating OTC derivatives,” says Tom Driscoll (pictured), global managing director, Charles River. “It is just one of many enhancements in our 18.104.22.168 release series that helps clients address market challenges, meet changing regulations across the globe, and optimise the investment management process."