JPMorgan and Banc of America Securities partner with Charles River OMS for algorithmic trading services
JPMorgan's Electronic Execution Services (EES) group has partnered with Charles River Development to integrate its algorithmic stock-trading tools into the Charles River Investment Management System (IMS).
As a result of the alliance, traders using Charles River IMS for order management and electronic trading will be able to execute FIX-based equity-securities orders according to JPMorgan's algorithms directly from the Charles River trade-blotter.
"We are pleased that JPMorgan put us first on their list for OMS [order-management system] integration, and we worked closely with them to quickly integrate their strategies into our version 7.2.3 of Charles River IMS, scheduled for release this month," states Peter Lambertus, chief executive officer of Charles River Development, in a press release.
On Monday, Banc of America Securities (BAS) announced it was giving Charles River clients seamless and direct access to BAS Electronic Trading Services trading platform. The arrangement with Charles River is part of BAS' new Electronic Trading Alliance, a framework in which BAS collaborates with leading technology vendors and trading venues, to provide its institutional traders with seamless access to its sophisticated algorithmic strategies.
Both the JPMorgan and BAS initiatives follow on the heels of similar moves by CSFB and Morgan Stanley to offer Charles River clients access to the brokerage firm's algorithmic trading services.