Russell Investments’ RFX Network connects to the Charles River Network
Development bolsters liquidity in cutting-edge alternative to the London fix
SEATTLE, June 15, 2016 — Global asset manager Russell Investments announced today that Russell FX Network (RFX Network) is now a certified end point on the Charles River Network Service, expanding RFX Network’s real-time connectivity to the global financial community.
RFX Network is an end-to-end trading solution for the buy-side community, featuring executable streaming prices, advanced netting, client-to-client matching and allocation of FX transactions. It is designed to help institutional investors including asset managers minimize currency exchange tracking error. This solution addresses industry concerns about the London fix and also allows institutional investors to trade at non-fixing times. The Charles River Network supports electronic trading via the FIX messaging protocol to over 600 global liquidity venues including brokers, multi-broker trading venues, crossing networks, broker algorithms, program desks, dark pools, smart order routers, ECNs, and ATSs.
“Connecting to the secure, reliable Charles River Network is an important milestone for RFX Network,” said Joseph Hoffman, director, global head of currency for the investment services group at Russell Investments. “We’re very pleased that Charles River Network participants can now access what we believe to be the next step in the evolution of FX trading for the investment community.”
RFX Network allows buy-side firms to automate execution of complex trade lists with an advanced solution that combines internal netting within an investor’s trading portfolio with external matching amongst the larger buy-side community. RFX Network combines three technology solutions—powerful internal netting capabilities, an FX facility that matches customer interests at the midrate, and advanced trading algorithms—into a comprehensive FX execution service. Participants can benefit from advanced netting, process automation and best execution while minimizing market impact of their orders. Investors can place orders electronically into RFX Network or have Russell Investments’ process them on their behalf. Fixing orders are matched with other investors, while any unmatched residual is executed by a trading algorithm that mimics the fixing process to minimize tracking error.
More information on this trading solution is available here: Currency Management. For usage information, please email RFX@russellinvestments.com or dial Russell Investments’ FX desk in Seattle at 206.505.2680.
About Russell Investments
Russell Investments, a global asset manager, is one of only a few firms that offers actively managed multi-asset portfolios and services which include advice, investments and implementation. Russell Investments stands with institutional investors, financial advisors and individuals working with their advisors—using the firm’s core capabilities that extend across capital market insights, manager research, asset allocation, portfolio implementation and factor exposures to help each achieve their desired investment outcomes.
Russell Investments has more than $247 billion in assets under management (as of 3/31/2016) and works with more than 2,500 institutional clients, independent distribution partners and individual investors globally. As a consultant to some of the largest pools of capital in the world, Russell Investments has $2.2 trillion in assets under advisement (as of 6/30/2015). The firm has four decades of experience researching and selecting investment managers and meets annually with more than 2,200 managers around the world. Russell Investments also traded more than $2 trillion in 2015 through its implementation services business.
Headquartered in Seattle, Washington, Russell Investments operates globally, including through its offices in Seattle, New York, London, Paris, Amsterdam, Milan, Dubai, Sydney, Melbourne, Auckland, Seoul, Tokyo, Shanghai, Beijing, Toronto, Chicago and Milwaukee. For more information about how Russell Investments helps to improve financial security for people, visit https://russellinvestments.com or follow @Russell_Invest.
About Charles River
Charles River provides an end-to-end solution to automate the front and middle office investment management process across asset classes on a single platform. SaaS deployment simplifies client operations, improves data quality and investment professional productivity, controls risk and lowers technology costs. Charles River serves 350+ investment firms in 40+ countries in the institutional asset/fund management, private wealth, alternative investments, insurance, banking, and pension markets. Visit www.crd.com.