Advent Adds Brown Brothers Harriman Infomediary as Swift Gateway Provider for Trade Order Management
Linking of Infomediary® will streamline the post-trade lifecycle for investment management firms using Advent’s Moxy® Trade Order Management System
Boston, MA and San Francisco, CA –Nov. 8, 2006 – Brown Brothers Harriman & Co. (BBH) announced today that Advent Software, Inc. (NASDAQ:ADVS), the leading provider of software and services to the investment management industry, has expanded its straight-through-processing (STP) reach with the addition of BBH Infomediary®, an integrated communications outsourcing solution.
BBH Infomediary will now integrate with Moxy®, Advent’s industry-leading trade order management system used by more than 700 clients worldwide, to provide a gateway to communicate trade and standing settlement instructions in industry-standard formats to custodians, accounting agents, administrators, and other interested parties.
The linking of Infomediary with Moxy® delivers a proven connectivity option for Moxy® users to create their own links to multiple external parties via SWIFT, the industry’s communications network. Using Infomediary as a SWIFT gateway can benefit Advent clients by improving STP, reducing the operational risk associated with manual processes, and improving efficiency through centralized post-trade custodian communications.
“By offering standard integration between Moxy® and Infomediary, our customers will have another means of automating post-trade communications to their custodians and other interested parties, whether US or globally based,” stated Will Clemens, Advent’s VP of Straight Through Processing. “This partnership is further proof of Advent’s deep commitment to deliver client-focused services that solve key pain points for our customers.”
“We are delighted to work with Advent and their clients,” says Taylor S. Bodman, BBH Partner. “Communicating in industry standard formats drives down operational cost and expands investment management opportunities for asset managers; Infomediary was developed to deliver a combination of greater efficiency and expanded client capabilities, so we are pleased to be achieving both with this opportunity.”
Asset management clients of Advent also benefit from the close integration of SWIFT and Infomediary. BBH is a recognized SWIFT Solution Partner, providing end-to-end solutions to clients through consultancy, system integration and project management with proven SWIFT knowledge.
A global leader with close to 200 years of experience, Brown Brothers Harriman (BBH) helps many of the world's most sophisticated mutual funds, investment managers, banks and insurance companies achieve their international business objectives. With approximately $1.5 trillion of assets in safekeeping, BBH provides specialist services and innovative solutions to clients in over 90 markets for custody, accounting, administration, securities lending, foreign exchange, and brokerage services. BBH’s Infomediary service provides innovative technology, and unmatched client service. BBH is consistently ranked among the world's top global custodians and maintains a presence in each of the principal financial centers around the globe. For more information on BBH's unique integrated approach.
Infomediary is a registered servicemark of Brown Brothers Harriman & Co.
Advent Software, Inc., a multi-national company, has been providing trusted solutions to the world's leading financial professionals since 1983. Firms in more than 60 countries using Advent technology manage investments totaling more than US $12 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.
Advent and Moxy are registered trademarks of Advent Software, Inc. All other company names or marks mentioned herein are those of their respective owners.
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
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