Front-end systems and information supplier Charles River and back-end accounting and systems supplier Princeton Financial Services have developed a web-based interface for their two main systems which, they believe, should boost the marketability of both offerings.

The global initiative should be well-received in Australia and Asia, according to Cameron Field, the Australian office chief executive. “We have already gone through a ‘proof of concept’ with one potential client,” according to Field. “The interface significantly reduces implementation time and implementation risk.” Both companies’ systems will still interface with those of other suppliers but they worked together on the latest project for their mutual benefit. Their products are complementary. Charles River is a privately-owned US-based company while Princeton is owned by US-based State Street. Andrew Sehulster, the chief executive of Princeton in Australia, said the two companies would look to do some joint marketing. “We’re talking to a couple of prospects that might turn out to be new clients for both of us.” He said that the XML-based, standard language system took “a lot of the integration worries away.” Called a “certified integration partnership” the interface supports all the capabilities of both front and back-end systems for processing and accounting various asset classes including derivatives and “providing advanced, real-time processing for position updates, intraday cash flows, cancel & replace orders, intraday corporate actions and synchronized trade updates”.