Charles River Developments, the financial IT firm, has signed a deal with JP Morgan which becomes the fourth major bank to add its advanced trading strategy to Charles River's investment management system.

Credit Suisse First Boston, Morgan Stanley and Bank of America have already signed up to the programme which offers Charles River's asset management clients access to the banks' advanced trading systems. In the past this software was predominantly used by hedge funds and quantitative traders but is becoming increasingly popular among traditional asset managers.