San Francisco, November 7, 2005 – Advent Software, Inc. (NASDAQ: ADVS) announces it has established agreements with 10 equity algorithmic trading brokers to provide algorithmic trading functionality to its Moxy® trade order management system. The addition of algorithmic trading capabilities will allow Moxy’s® buy-side users to consolidate more of their trading activity on one trade screen, while accessing leading broker algorithmic trading strategies.
The ten firms whose algorithmic trading strategies will interface directly with Moxy® are Banc of America Securities, BNY Brokerage, Credit Suisse First Boston, Goldman Sachs, Jefferies & Company, Inc., Lehman Brothers, Merrill Lynch, Morgan Stanley, Susquehanna Financial Group and UBS. All of these brokers’ algorithmic trading strategies are available through the SunGard Transaction Network, which is preconfigured for integration with Moxy® through Advent’s partnership with SunGard.
Moxy® is the industry’s most widely used trade order management system with more than 700 client firms world wide.
“With the addition of algorithmic trading strategies into Moxy®, hundreds of buy-side firms now have access to the sell-side’s cutting edge trading tools,” said Will Clemens, vice president of Advent’s straight-through processing business line. “With the expanded use of algorithms, buy-side firms can focus on strategy and counterparty selection, as opposed to manually working orders. Investment managers and their clients will benefit from lower transaction and operational costs, improved transparency, and fewer errors. In addition, sell-side firms can have confidence that their buy-side clients are able to take full advantage of the tools in which they have invested.”
Advent Software, Inc., a multi-national company, has been providing trusted solutions to the world's leading financial professionals since 1983. Firms in 50 countries using Advent technology manage investments totaling more than US $8 trillion. Advent's quality software, data and services enable financial professionals to improve service and communication to their clients, allowing them to grow their business while controlling costs.
FORWARD LOOKING STATEMENTS
Any forward looking statements included in this press release involve risks and uncertainties that could cause actual results to differ materially from our expectations. These risks and uncertainties include market acceptance of new products, the impact of initiatives by competitors, and other risks detailed in Advent’s filings with the Securities and Exchange Commission, including, but not limited to, its annual report on Form 10-K and quarterly reports on Form 10-Q, as amended, copies of which may be obtained by contacting Advent Software at 415-645-1787, or by visiting Advent’s Investor Relations website at www.advent.com.
ADVENT and MOXY are registered trademarks of Advent Software, Inc. or its subsidiaries. All other company names or marks mentioned herein are those of their respective owners.