Advent Forms Marketing Alliance with J.P. Morgan FCS for Geneva®
Advent Extends Bank Debt Functionality for Geneva® through Alliance with FCS’ Wall Street Office Product
SAN FRANCISCO – March 28, 2007 – Advent Software, Inc., (NASDAQ: ADVS), the leading provider of solutions to the global investment management industry, today announced a new alliance with J.P. Morgan FCS Corp. (FCS), the leading provider of technology solutions to the leveraged loan market, to complement the credit derivatives support functionality of Geneva®. The two companies have agreed to jointly develop and market technical integration between Geneva®, Advent’s investment management and accounting platform, and Wall Street Office, FCS’ suite of products for the administration, accounting and reporting of bank loans.
“Advent is firmly committed to keeping Geneva® at the forefront in supporting complex derivative instruments, and the use of bank debt in alternative investment strategies has grown enormously over the past several years,” said Chris Momsen, Vice President and Co-Head, Advent Global Accounts. “The integration of Wall Street Office, along with recent enhancements to Geneva®’s core bank debt functionality, will provide our clients with a comprehensive system for the accounting and administration of these instruments.”
As part of the agreement, Advent is developing a Wall Street Office integration component within Geneva®’s workflow management toolset, allowing clients to automatically assimilate all bank loan activities directly from Wall Street Office into Geneva® to produce consolidated reporting and full financial accounting. Geneva® clients benefit from complete straight-through processing (STP) and validation for bank debt trades, including trade processing and settlement, reconciliation, documentation and loan maintenance.
"We have many clients and prospective clients in common with Geneva®, and this agreement will ensure that the integration between our systems is easy for our joint clients to implement and manage,” said Mark Murray, President of J.P. Morgan FCS. “We are excited to be working with Advent, a leader in the alternative investments space, to create a best-of-breed integrated offering for bank debt.”
The collaboration is part of Advent’s ongoing commitment to provide the industry’s leading and most complete integrated suite of products for investment managers.
About Wall Street Office
Wall Street Office is a suite of products for the administration, accounting and reporting of bank loans, bonds and other investments. This comprehensive system is designed to facilitate the management of portfolios and structured deals more efficiently and effectively, with functionality tailored to the asset types found in structured deals, as well as compliance reporting specific to each structure. The software is currently used to manage more than $300 billion in assets and provides access to real-time data.
About J.P. Morgan FCS
Headquartered in Dallas, J.P. Morgan FCS Corp. provides software and services that help increase the efficiency and accuracy of trading, tracking and managing more than $300 billion of syndicated bank loans, high yield bonds, and equities. The company operated under the name Financial Computer Software until its acquisition by JPMorgan Chase Bank in November 2003. For more information please visit www.fcsoft.com
Geneva®, a global investment management and accounting platform, is a proven solution for asset managers, hedge funds, fund administrators, prime brokers, and mutual funds that require a high level of operational efficiency and easy access to real time data. Geneva®'s comprehensive instrument coverage, full financial general ledger, and industry-standard integration tools enable firms to manage complex investment vehicles, multiple investment strategies, and tiered fund structures. Geneva® has over 100 clients globally, including eight of the top ten global prime brokers, eight of the top ten fund administrators, 15 of the world’s largest hedge funds, and many of the largest and most prestigious financial institutions in the world.
About Advent Software
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 use Advent technology and manage investments totaling more than US $14 trillion. Advent's quality software, data and services enable financial professionals to improve service and communication to their customers, allowing them to grow their business while controlling costs. Advent is the only financial services software company to be awarded the Support Center Practices certification for being a world-class support organization.
Advent and Geneva are registered trademarks of Advent Software, Inc. All other company names or marks mentioned herein are those of their respective owners.
Any forward-looking statements included in this press release, including those pertaining to new products, 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 Web site at www.advent.com