Charles River and LedgerEdge Announce Collaboration to Provide DLT-Enabled Corporate Bond Liquidity and Trading Services
The collaboration will allow investment firms access to corporate bond liquidity from the LedgerEdge ecosystem via the Charles River Inventor and Order and Execution Management System (OEMS).
Boston — February 9, 2022 – 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.
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.