Investment-Technology Newsflashes

Standard Life Investments, a global fund manager with $145 billion in assets, has chosen Charles River Development to provide investment-management technology. The firm will replace internal systems with Charles River Investment Management System for portfolio management, order management, trading, and real-time securities-compliance monitoring. It will support the firm's global equity, fixed-income, money-market and derivatives operations. The system will eventually be implemented on the desks of 135 users, but is being rolled out in phases. The system has already been installed in Montreal, and is currently being rolled out in Edinburgh. Plans for Standard Life's Boston and Hong Kong offices are next.

State Street Corporation has agreed to join E-Crossnet as a shareholder and core participant. Investment managers use the equity-crossing trade-execution platform for European trading. The direct-dealing platform is an investor-only business model, with 12 European investors, including Barclays Global Investors and Merrill Lynch Investment Managers. Stanley Shelton, executive vice president of State Street, said in a statement that the firm and E-Crossnet have aligned interests. "We're in the transparency business," he said.

ABN AMRO Netherlands has selected Odyssey Asset Management Systems to supply a portfolio-management solution. The firm will use the Luxembourg-based vendor's Triple'A for its Private Banking portfolios, with possible plans to extend to the Mass Affluent and Retail units as well.