Reformis Delivers Major CRD Upgrade


A mid-sized Investment Manager located in Washington D.C. was embarking on a Charles River OMS upgrade and needed assistance in running the project. The client also required a technical resource as they had no internal Charles River expertise.

With no in house expertise and a lack of Project Managers due to an unusually high period of employee turnover, along with a current version of Charles River that was soon to be unsupported, the client felt it was necessary to bring in highly skilled front office implementation talent to run and technically deliver the project to its success.

Reformis Solution

Reformis provided a Project Manager/Business Analyst well versed in the front office to run the project, gather requirements and work with the trading desk.

Reformis also provided a front office specialist with technical expertise in Charles River.

Project Details:

  • Client’s current version for CRD was soon to be unsupported. An upgrade to the latest version was recommended by the vendor and confirmed as a reasonable choice by Reformis.
  • The client traded multiple asset classes including equity, fixed income, options, and derivatives. All needed to be considered in terms of requirements and regression testing.
  • One major obstacle – the integration between CRD and the portfolio account platform, Advent APX was written in Perl, which was no longer supported. This needed be rewritten.
  • Using CRD for Compliance, this needed to be a part of the project plan in terms of regression testing and any subsequent necessary changes from the testing results.
  • Fifty custom reports built off the CRD database needed to be tested and refactored if necessary.

Project Delivery:

The Reformis team alongside client project resources and CRD support were able to deliver the upgrade in three months. Reformis successfully managed the project and delivered the technical changes necessary to support their old workflows while rebuilding the integration between CRD and APX. Compliance rules and workflow were also enhanced using new functionality.

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