Advent Partners with Investit to Create MiFID Compliance Guide

Advent Partners with Investit to Create MiFID Compliance Guide

Practical Guide Outlines How Advent Can Help Investment Management Firms Achieve MiFID Compliance

LONDON and SAN FRANCISCO – August 1, 2007 – Advent Software, Inc., (NASDAQ: ADVS), the leading provider of software and solutions for the global investment management industry, and Investit, a leading investment management consultancy, have teamed up to produce MiFID: A Practical Guide to MiFID Compliance; How Advent can help investment management firms, which outlines the buy-side impacts of Markets in Financial Instruments (MiFID), and explains how software vendors can help implement MiFID requirements. 
The guide highlights four main areas where Advent can help fund managers, including compliance, client management, dealing and safeguarding of client assets.  The two Advent® products which can be used to help these firms meet MiFID requirements are Advent Portfolio Exchange® (APX), its portfolio and client relationship management system, and Moxy®, its trade order management system. 
“With many of our clients still working through complex MiFID projects and the November 1st deadline quickly approaching, it was important for us to team up with Investit to help our clients understand the impact that MiFID will have on their businesses,” said Hakan Valberg, General Manager, Advent Software EMEA.  “Our relationship with Investit enabled us to say with confidence that Moxy® and APX can both provide the required functionality to automate MiFID compliance in the areas in which our clients use them.”
“In working with over 20 fund management firms on MiFID projects, we discovered that MiFID project managers were unclear on how software vendors could help them achieve MiFID compliance,” said Clare Vincent-Silk, MiFID consultant at Investit.  “While many vendors brand their systems as ‘MiFID compliant’, they do not clarify how their systems can help with the different areas of MiFID regulations, causing confusion among MiFID project managers at fund management firms.” 
Added Vincent-Silk, “Software is a great enabler and it was very productive to work with Advent to identify those system functions that can assist investment management firms in achieving MiFID compliance.”

Top Ten Ways Advent Can Help with MiFID Compliance:

Record Keeping
Audit trail capability: record orders and executions of equities, fixed income, OTC, exchange traded derivatives and treasury function 

Suitability Test

Pre-trade compliance checking capability; help the firm follow the client’s investment

PA Dealing

Ability to impose and lift restrictions on staff dealing when appropriate 

Client Order Handling

Automated order allocations allowing for manually adjusted allocation overrides

Best Execution – Connectivity

FIX connectivity to brokers and embedded broker algorithmic and direct market access applications

Best Execution – Client Instructions

Ability to store client specific instructions against an order

Information to Clients
Commission management enquiry and reporting capability

Client Reporting

Client reporting, including transaction details, both ad-hoc and at regular intervals

\Safeguarding of Client Assets

Electronic interfaces to reconcile trade information with brokerage firms and custodians. Shadow accounting and collateral management capability

Client Classification
The ability to store client information and record client classifications defined by the fund manager 
MiFID: A Practical Guide to MiFID Compliance; How Advent can help investment management firms is available at:
About Advent
Advent Software, Inc. (, a multinational company, has provided 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 clients, helping them grow their business while controlling costs.  For more information about Advent in EMEA visit
Advent, Advent Portfolio Exchange and Moxy are registered trademarks of Advent Software, Inc.  All other company names or marks mentioned herein are those of their respective owners.
About Investit
Investit is the leading investment management consultancy.  It has a unique range of services, providing expert advice across all areas of investment management companies, from front to back office.  Investit also offers detailed research and benchmarking services.  Investit was founded in 1998 and includes five core expertise areas: investments, client management, performance and risk, operations and technology.  In 2002, Investit People was added to provide specialist recruitment services to support project work.  In 2006, Investit Technology was created from an alliance with US investment management systems consultancy, InvestTech Systems. Investit Intelligence completes the offering with a range of specialist surveys and detailed research papers.  For more information, go to

Paul Watthey       
Advent Software EMEA     
+44 (0)20 7631 9240 
Katherine Calvert  
Advent Software
(415) 645-1853
Robert Sanders
+44 (0)20 7920 9030