Software facilitates order management.
Press Release Summary:
Designed to meet needs of large institutional asset management firms and high net worth asset managers, Moxy® v6.0 offers customizable trading workflow, consolidated group trading, commission management functionality, and multi-tiered architecture. Through integration with Advent's portfolio management platforms, Moxy enables true internal and external straight through processing and brings together mission-critical functions across investment management organizations.
Original Press Release:
Advent Extends its Trading Leadership in the Institutional Asset Manager and High Net Worth Market with the Release of Moxy® 6.0
New Moxy(R) Offers Enhanced Trading Workflow, Greater Platform Flexibility, and Seamless Integration with Advent's Best-of-Breed Suite
SAN FRANCISCO, June 14 / -- Advent Software, Inc. (NASDAQ:ADVS), the leading provider of software and solutions for the investment management industry, today announced a major new release of Moxy(R), the industry's most widely used order management system (OMS). Moxy(R) 6.0 offers enhanced functionality and architecture to better meet the needs of even the largest institutional asset management firms and high net worth (HNW) asset managers, with features that include enhanced trading workflow, consolidated group trading, commission management functionality, and a new multi-tiered architecture.
More than 750 licensed customers are already using Moxy(R) to reap the benefits of the industry's leading OMS. Of Moxy(R)'s 750 clients, which range from traditional institutional and HNW asset managers to long-short hedge funds, almost 100 firms have more than $5 billion in assets under management.
Through its streamlined integration with Advent's industry-leading portfolio management platforms (Advent Portfolio Exchange(R), Geneva(R) and Axys(R)), Moxy(R) enables true internal and external straight through processing (STP) and brings together mission-critical functions across investment management organizations. Moxy(R) 6.0 is built on a new multi-tiered architecture that leverages the industry standard MSFT SQL 2005 and .NET 2.0 platform.
"We've been very pleased by the enhancements to Moxy(R), which augment the value we were already getting from Advent," said Gordon O'Reilly, a partner and portfolio manager with the Toronto-based firm, Cranston, Gaskin, O'Reilly and Vernon (CGOV), an investment management firm that manages approximately $1 billion on behalf of high net worth individuals, charitable organizations and institutions. O'Reilly, who participated in the Moxy(R) 6.0 beta program, continued, "The enhanced user experience and streamlined workflow in Moxy(R) 6.0 and its seamless integration with Advent's industry-leading portfolio accounting platform means that we are now better able to focus on our core business of managing client assets instead of managing additional people."
"The new release of Moxy(R) represents an important leap forward for Advent's industry-leading investment management suite, positioning us to deliver greater value to even the largest of asset management firms," said Pete Hess, EVP and General Manager of Advent's Investment Management Group. "With more than twice the clients of any other provider, Moxy(R) has long been the leader in trade order management, and our continued investment in the product demonstrates Advent's ongoing commitment to extending that leadership in the institutional asset management and HNW markets. For investment management firms of any size looking for a trusted partner to help them optimize operations and streamline their investment processes, Advent is the clear choice."
Key benefits of the new Moxy(R) include:
-- Customizable trader workflow
-- Intuitive user interface expedites investment decisions
-- Easy access to critical data, enabling timely portfolio development
-- Best-of-breed back office integration with Advent's industry-leading portfolio accounting solutions
-- Better integration with third-party applications and data
-- Access to industry-leading ease-of-implementation, with over 750 firms implemented worldwide
Advent will be demonstrating Moxy(R) 6.0 at the SIFMA Technology Management Conference in New York City, June 19-21, 2007. For more information, visit the Events page on Advent's website, http://www.advent.com/.
About Moxy(R)
Moxy(R) automates and streamlines the trading and order management process of partial and complete executions and allows the user to send allocation results using OASYS, an external electronic allocation system, to communicate allocations to brokers electronically. Moxy(R) also provides Internet-ready electronic order routing based on the industry standard FIX messaging protocol, allowing users to route trades electronically to any FIX-compliant broker or crossing network that supports the Internet or other TCP/IP connections.
About Advent
Advent Software, Inc. (http://www.advent.com/), a multi-national firm, has provided trusted solutions to the world's leading financial professionals since 1983. Firms in 60 countries use Advent technology and manage investments totaling nearly US $14 trillion. Advent's quality software, data, services and tools enable financial professionals to improve service and communication to their clients, allowing them to grow their business while controlling costs. Advent is the only financial services software company to be awarded the Support Center Practices certification for being a world-class support organization.
Advent and Moxy are registered trademarks of Advent Software, Inc. All other company names or marks mentioned herein are those of their respective owners.
CONTACT: Katherine Calvert of Advent Software, Inc., +1-415-645-1853, kcalvert@advent.com
Web site: http://www.advent.com/
