SAN FRANCISCO – September 16, 2009 – Advent Software, Inc. (NASDAQ: ADVS), a leading provider of software and services for the global investment management industry, announced today an agreement with Chicago Clearing Corporation (CCC), a leading claims filing specialist in securities class action claims. This strategic relationship will allow clients to leverage CCC’s proven comprehensive securities class action claims filing solution.
With 17 years in the class action arena, CCC files and manages securities class action claims for investment professionals and their clients. Through its alliance with Advent, CCC will enable Advent clients to manage multiple claims and administrators through a single source, removing the burden of filing claims internally, and saving Advent clients both time and resources.
Specifically, Advent clients using Advent Portfolio Exchange® (APX), its award-winning portfolio management solution or Axys®, its turnkey portfolio accounting solution, will be able to integrate with CCC’s claim filing solution. The integration is free to mutual customers. In addition, CCC will provide class action monitoring notifications at no cost to clients using Advent Corporate Actions® (ACA), Advent’s corporate actions service.
“We chose CCC as an Alliance Partner because of their proven reputation and the fact that their services have been endorsed by more than 100 Advent customers,” said Alison Swabowicz, Senior Straight-Through-Processing Product Manager at Advent. “We are very pleased to have the opportunity to work with CCC to provide our customers with a solution that makes it easier for them to manage the security class action claims process on behalf of their clients.”
“Servicing Advent clients is a pleasure for CCC and we are honored to be an Advent Alliance Partner,” said James Tharin, Chief Executive Officer, Chicago Clearing Corporation. “Due to the market meltdown of the last two years, class action securities settlements are expected to increase. CCC will relieve the exhausting claim filing burden from Advent's clients and deliver the class action settlement proceeds intended for Advent’s investment advisors’ clients.”
Concluded George McLaughlin, Director of Alliances, Advent Software, "Our relationship with CCC is another example of how Advent is building a network of proven Alliance Partners to support our client base and their business objectives. We are very pleased to continue to offer our clients further value, flexibility and choice through these relationships.”
About Advent’s Alliance Program
Advent's Alliance Program is comprised of Alliance Partners that provide robust solutions that complement and enhance the core capabilities of Advent's offerings. Together with Advent, this elite group of partners offers certified integration to Advent's products. Alliance Partners offer a broad array of systems, software, business information, and other important services uniquely adapted to meet the needs of the Advent client community. These solutions are designed to help customers improve their operational efficiency, and offer superior service to their clients.
Advent Software, Inc., a global firm, has provided trusted solutions to the world’s financial professionals since 1983. Firms in 60 countries rely 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 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 our demo page.
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 continued sales of existing products, the successful development and market acceptance of new products and enhancements, the impact of initiatives by competitors, continued uncertainties and fluctuations in the financial markets and economic conditions and other risks detailed in Advent’s most recent filings with the Securities and Exchange Commission, including, but not limited to, its quarterly reports on Form 10-Q and its 2008 annual report on Form 10-K, copies of which may be obtained by contacting Advent Software at (415) 645-1787 or by visiting Advent’s Investor Relations Web site at www.advent.com.
Advent, the Advent logo, Advent Software, Advent Corporate Actions, Advent Portfolio Exchange and Axys are registered trademarks of Advent Software, Inc. All other company names or marks mentioned herein are those of their respective owners.
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