Cummins Inc
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Industrials : Machinery | Large Cap Value
Company profile

Cummins Inc. designs, manufactures, distributes and services diesel and natural gas engines and engine-related component products. The Company's segments include Engine, Distribution, Components and Power Systems. The Engine segment manufactures and markets a range of diesel and natural gas powered engines under the Cummins brand name, as well as certain customer brand names, for the heavy and medium-duty truck, bus, recreational vehicle (RV), light-duty automotive and agricultural markets. The Distribution segment consists of the product lines, which service and/or distribute a range of products and services, including parts, engines, power generation and service. The Components segment supplies products, including aftertreatment systems, turbochargers, filtration products and fuel systems for commercial diesel applications. The Power Systems segment consists of businesses, including Power generation, Industrial and Generator technologies.

Postmarket

Last Trade
Delayed
$0.00
0.00 (0.00%)
Bid
--
Ask
--
B/A Size
--

Market Hours

Closing Price
$219.89
Day's Change
2.45 (1.13%)
Bid
--
Ask
--
B/A Size
--
Day's High
219.98
Day's Low
214.32
Volume
(Average)
Volume:
1,092,360

10-day average volume:
1,054,574
1,092,360

Vanguard Consolidates Taxable Money Market Fund Management on Charles River IMS

9:00 am ET August 18, 2020 (BusinessWire) Print

Charles River Development, a State Street company, today announced that Vanguard Group Inc. has consolidated management of taxable money market funds on the cloud-based Charles River Investment Management Solution (Charles River IMS).

Vanguard is live on the platform, using Charles River IMS across the investment process, from pre-trade to post-trade and compliance. The Charles River Investment Book of Record (IBOR) provides portfolio managers and traders with real-time cash and positions and Charles River's Data Service delivers benchmark and pricing data. Charles River IMS also enables users to incorporate its proprietary data and configure workflows unique to their product offerings.

Charles River IMS provides fixed income managers with streamlined workflows to access liquidity venues, identify investable cash, more easily manage counterparty limits and improve communication and collaboration between investment teams.

"As one of the world's leading global fund providers, Vanguard is continuously enhancing our investment management function to help clients grow their wealth," said Paul Malloy, Principal, Head of Municipals at The Vanguard Group Inc. "The move to Charles River IMS is an example of how Vanguard employs sophisticated investment systems to achieve efficiencies and improve investor outcomes."

Adopting Charles River IMS has enabled asset managers to streamline compliance with SEC Rule 2a-7 money market requirements and reduce operational risk by automating manual processes and retiring several legacy proprietary applications. Charles River's Software as a Service (SaaS)-based operating model supports operational resilience by delivering regular software upgrades, high quality data and on-demand scalability.

"Increased market volatility and regulatory oversight are driving fund managers to reevaluate their technology footprint and operating model," said Matt Daly, Head of Americas, Charles River. "By consolidating onto Charles River IMS, firms can gain greater visibility into their investment process, use proprietary content more effectively and scale to support their growing product offerings."

About Vanguard

Vanguard is one of the world's largest investment management companies. As of April 30, 2020 Vanguard managed $5.7 trillion in global assets. The firm, headquartered in Valley Forge, Pennsylvania, offers 425 funds to its more than 30 million investors worldwide. For more information, visit vanguard.com.

About Charles River, A State Street Company

Investment firms, asset owners, wealth managers, hedge funds and insurers in more than 30 countries rely on Charles River's front and middle office investment management platform to manage more than US$29 Trillion in assets. Together with State Street's middle and back office capabilities, Charles River's cloud-deployed software technology forms the foundation of State Street Alpha(SM). The Charles River Investment Management Solution (Charles River IMS) is designed to automate and simplify the institutional investment process across asset classes, from portfolio management and risk analytics through trading and post-trade settlement, with integrated compliance and managed data throughout. Charles River's growing partner ecosystem enables clients to seamlessly access external data and analytics, applications and liquidity venues that support the unique demands of their product and asset class mix. Headquartered in Burlington, Massachusetts, we serve clients globally with more than 1,000 employees in 11 regional offices. (Statistics as of April 2020)

About State Street Corporation

State Street Corporation (NYSE: STT) is one of the world's leading providers of financial services to institutional investors including investment servicing, investment management and investment research and trading. With $33.52 trillion in assets under custody and/or administration and $3.05 trillion* in assets under management as of June 30, 2020, State Street operates globally in more than 100 geographic markets and employs approximately 39,000 worldwide. For more information, visit State Street's website at www.statestreet.com.

* Assets under management as of June 30, 2020 includes approximately $67 billion of assets with respect to which State Street Global Advisors Funds Distributors, LLC (SSGA FD) serves as marketing agent; SSGA FD and State Street Global Advisors are affiliated.

(C)2020 State Street Corporation - All Rights Reserved

State Street Corporation, One Lincoln St, Boston MA 02111

3203331.1.1.GBL.RTL

View source version on businesswire.com: https://www.businesswire.com/news/home/20200818005420/en/

SOURCE: Charles River Development">

Mary Masi-Phelps
marymasiphelps@crd.com 
781-425-6155
comtex tracking

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