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Investment Management Newsflashes: Artemis Flows Through Charles River, and more

Artemis Flows Through Charles River, AdviceAmerica Launches Retirement Income Planning Solution, GL Trade Acquires Nyfix

Artemis Flows Through Charles River

Charles River Development, a provider of financial software and services to the global investment management community, recently announced that Artemis Investment Management , with over US$19bn in assets under management, has selected the Charles River Investment Management System (Charles River IMS) to support its London and Edinburgh based asset management operations. Artemis, which manages retail, institutional and hedge fund products, is active in all principal asset classes.

Charles River IMS is a front-to-middle office software suite for portfolio management and modeling, order management and electronic trading, real-time compliance monitoring and the centralized management of trade matching, confirmation and settlement workflow.

"We conducted a comprehensive review of the leading front-office systems vendors and the Charles River IMS provided the best fit for our extensive range of requirements," said Mark Murray, chief operating officer, Artemis from a release.

"Artemis is a high profile investment manager that continues to experience rapid growth," said Mark Cappell, managing director, Charles River Development, from a release. "We're delighted to be selected by this prestigious institution which joins our expanding group of superior European and UK-based asset management clients."

AdviceAmerica Launches Retirement Income Planning Solution

To address the increasing challenges Baby Boomers face when entering retirement -- managing post-retirement risks and inadequate retirement income -- AdviceAmerica,, a provider of financial planning software, recently released a retirement income planning and distribution solution, called AdvisorVision Retirement Income Edition.

With AdvisorVision Retirement Income Edition, advisors can create customized plans in as little as 15 minutes and evaluate a range of scenarios that consider changes in virtually every aspect of a retiree's life including: savings and cash flow, expenses, income, market performance, withdrawal strategy, annuities, residence downsizing, long-term care and life insurance. Rich graphs and illustrations summarize results and product-specific recommendations are presented in a clear, compelling manner.

Retirement Income Edition is a Web-based application that optimizes retirement income planning using industry best practices, methodologies, training and education materials. An intuitive user interface, extensive integration, and automated advice and modeling capabilities increase productivity so advisors can meet the growing demand for retirement income planning and drive growth and profit.

GL Trade Acquires Nyfix

Paris-based GL Trade has acquired the overseas business of U.S.-based Nyfix, which specializes in the provision of order management systems for the derivatives markets.

The $7.7 million deal is consistent with GL Trade's strategy of providing consolidated front-to-back office trading systems and strengthens the vendor's presence in the London investment banking market.

The acquisition by GL Trade follows last month's purchase of Emos Systems, a French company specializing in middle office derivatives with annual revenue of US$2.5m.

Around 20 clients, including some significant tier-one firms, already use Nyfix Overseas technology for their order management.

"Nyfix Inc. has decided to focus on its core business - FIX Order routing within the global equities markets and associated transaction offerings," said Peter Hansen, chairman of Nyfix. "We therefore sold Nyfix Overseas' business to an ISV that is very active on derivatives markets and able to ensure the further development of the company."

Nyfix estimates recording a net gain on the transaction of approximately $4.5 million after deducting related legal, accounting and placement fees and the equity held in Nyfix Overseas just prior to the sale.

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