Advent and SunGard Address Cost Basis Reporting Requirements with Enhanced FIX Messaging

Advent and SunGard Address Cost Basis Reporting Requirements with Enhanced FIX Messaging

SAN FRANCISCO – June 14, 2011 – Advent Software, Inc. (NASDAQ: ADVS), a leading provider of software and services for the global investment management industry, announced today that it has teamed with SunGard, to address cost basis reporting requirements with enhanced FIX messaging via Advent’s Moxy® trade order management system (OMS).  

Part of the Emergency Economic Stabilization Act of 2008, cost basis reporting requirements call for financial custodians to report adjusted cost basis information to the IRS.  The cost basis reporting requirements went into effect on January 1, 2011 for equities, which must be reported on the Form 1099 in 2012.  For investment management firms with a tax-sensitive trading strategy, the ability to include tax lot information on their trades is a mission critical component of their workflow.

For clients using Moxy®, Advent’s industry-leading OMS, the enhanced FIX messaging extends the capabilities of the tax-sensitive engine at the core of Moxy®.  Historically, Moxy® users have had the ability to select tax-optimized closing methods for their portfolios, but lacking an automated way to communicate this selection to custodians, closing methods would sometimes differ from what their custodians offered.

Now, through its relationship with SunGard Global Network (SGN) Securities, Advent offers a straight-through-processing workflow from Moxy® to support transmission of Versus Purchase (VSP) information on the FIX allocation message and which can be used to specify tax lots when closing out positions. Together, Advent and SunGard’s connectivity help improve automation of key trade lifecycle components including electronic order routing, broker allocations, confirm/affirm and custodian bank notifications, helping to minimize risk and costs associated with trading. 

“Ongoing collaboration with other industry leaders is important to our ability to develop relevant, robust solutions for our clients,” said George McLaughlin, a Senior Director at Advent.  “The cost basis reporting requirements represent a new challenge for the industry to stay synchronized at the individual tax lot level.  Together with SunGard, we have met that challenge.”

“SunGard is very proactive in helping customers prepare for upcoming regulatory obligations,” said Raj Mahajan, president of SunGard’s global trading business. “Our goal is to utilize strong relationships to help our customers capitalize on change and stay competitive in this evolving regulatory environment. SGN Securities and Advent help customers by providing a service that supports portfolio management with cost basis specifications, as well as route orders, allocate to specific accounts and manage FIX connectivity requirements with minimal configuration.”

About SunGard’s Solutions for Global Trading
SunGard's global trading solutions help buy- and sell-side firms manage the entire trade lifecycle across multiple platforms, asset classes and markets.  SunGard provides equities, futures, fixed income, options and energy traders with trading, risk management, compliance and surveillance solutions for increased performance and execution.  Linking buy-side firms to brokers, SunGard provides a single, broker-neutral platform for access to electronic markets, including major ECNs and dark pools, while supporting low latency market data delivery. For more information, visit

About Advent
Advent Software, Inc., a global firm, has provided trusted solutions to the world’s financial professionals since 1983.  Firms in more than 50 countries count on Advent technology to run their mission-critical operations.  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 operational risks and costs.  Advent is the only financial services software company to be awarded the Service Capability and Performance certification for being a world-class support and services organization.  For more information on Advent products visit

Advent, the Advent logo, Advent Software and Moxy are registered trademarks of Advent Software, Inc.  All other company names or marks mentioned herein are those of their respective owners.

Media Contact:      
Smita Topolski    
Advent Software, Inc.     
(415) 645-1668


SGN Brokerage Services offered in the United States are provided by SunGard Institutional Brokerage Inc., Member FINRA / SIPC.

SunGard is an independent company and not affiliated with Advent Software, Inc.