In addition, Charles River will remotely provide ongoing application management and support from a third-party hosting center. Charles River will also provide ClariVest with global, real-time FIX connectivity for electronic trading as well as ongoing FIX connectivity testing, certification and management. ClariVest manages US, international and global stock portfolios across the market-cap spectrum.

"Outsourcing the application management and hosting of Charles River IMS is a cost-effective way for us to secure all of the integrated tools, functionality and trading connectivity we require, without having to worry about maintaining the technical aspects in-house," said Stacey R. Nutt, Chief Executive Officer of ClariVest Asset Management. "It was important for us to launch our firm with a comprehensive order management system that supports US and international securities as well as our program and basket trading workflow. In addition, with Charles River IMS's industry endorsed pre-trade and real-time compliance capabilities and extensive modeling and analytic tools, we are confident the ClariVest investment team will be able to fully optimize our trading and provide our clients with effective execution."

ClariVest selected Princeton Financial Systems (PFS) (a State Street Company) to provide hosting services and selected Charles River to provide remote application management of Charles River IMS. Charles River's Remote Application Management service provides ongoing management of the Charles River IMS software, database administration and FIX network connectivity—all via secure network connection—as well as Charles River IMS operational and technical support.

ClariVest also leverages Charles River's interface to Mellon Financial's Investment Manager Solutions group to facilitate and automate a breadth of post-execution processing services.