LONDON – January 11, 2002 - Advent Europe, the European distribution arm of Advent Software, Inc.® (NASDAQ: ADVS), announces that it has signed a strategic alliance agreement with Pershing Limited to co-market their products and solutions to the UK securities marketplace. Advent Europe and Pershing Limited will jointly be able to provide front to back office straight-through-processing.
This is the first solution to offer private client asset managers a trade order management system with user-defined portfolio valuations and contact management through to settlement, custody and cash management. The interface is already implemented at two firms including 7im, a division of Killik & Co, a major UK stock broking firm.
Ron Morgan, Chief Executive of Pershing Limited, said: “This agreement will further improve the services we offer and continues to build upon our reputation to meet the requirement to continually provide cost effective solutions and support to a sophisticated and changing marketplace.” David Cotterell, CEO of Advent Europe UK, added: “Advent has a strong relationship with Pershing US and Advent Europe is delighted to be able to provide true straight-through-processing to the growing independent asset management segment, as well as to the established stockbroker community.”
About Pershing Limited
Pershing Limited is the UK’s leading outsourced provider to the UK stock broking and investment management community with over 90 firms using their services.
About Advent Europe
Advent Europe was established in 1999 as an independent distributor of Advent Software products. Advent Software, Inc. has been providing trusted solutions to the worlds' leading asset managers since 1983. Firms in 45 countries use Advent technology to manage investments totaling more than US $5 trillion. Advent's quality software, data, services and tools enable managers to improve service and communication to their clients, allowing them to grow their business while controlling costs. Advent's common stock is traded on the NASDAQ National Market under the symbol ADVS.
Advent Software Inc. is located at 301 Brannan Street, San Francisco, CA 94107, telephone +1 415 543 7696, www.advent.com. Advent Software, Inc. is a registered trademark of Advent Software. All other products or services mentioned herein are trademarks or registered trademarks of their respective companies.
Anne Line Lande, Marketing Manager
Trevor Jones, Managing Director
+44 (0)20 7864 8000