SAN FRANCISCO – June 10, 2008 – Advent Software, Inc. (NASDAQ: ADVS), a leading provider of software and services for the global investment management industry, today announced that Moxy®, its trade order management solution, has completed systems integration with Pulse Trading’s alternative trading system, BlockCross. The strategic relationship delivers greater access to liquidity to Moxy® customers.
Advent announced its strategy earlier this month of expanding trading integration options for its Moxy® clients. With over 800 clients, Moxy® is the most widely used order management system (OMS) software in the industry and serves as the hub of the trading desk by providing connectivity to the markets and critical trading tools for its customers. The integration allows Moxy® traders to easily interact with BlockCross’s deep pool of liquidity by synchronizing traders’ blotters in Moxy® and BlockCross.
Building on its existing connectivity relationships, the integration with BlockCross extends Advent’s ability to provide Moxy® clients with the tools necessary for effective and efficient trade management. Further, the integration will leverage the strength of the latest version of Moxy®, its 6.0 platform, which provides greater speed and powerful workflow enhancements to the trading desk.
“We are delighted to further increase the access to liquidity for our clients through our relationship with BlockCross,” said Tim Decker, Product Manager of Electronic Trading & Connectivity at Advent. “This strategically significant integration extends Advent’s track record of delivering innovative services that respond to the rapidly evolving needs of its 800-plus global Moxy® customer base.”
“Adding Advent’s Moxy® OMS to our list of integrated systems is a significant step in the continued strategic growth of BlockCross,” said Wally Sullivan, Managing Partner, Pulse Trading. “We relish the ongoing opportunity to work with Advent and Moxy® users to bring the unique liquidity, functionality and control that BlockCross offers to equity traders.”
Added Decker, "We understand how essential access to pools of liquidity has become, and this integration is just another example of Advent delivering on its strategy to anticipate and solve the trading needs of our broad Moxy® client base.”
BlockCross is an independent ATS designed to find significant liquidity opportunities and maximize those opportunities via multiple crossing methods. BlockCross not only leverages buyside OMS blotter integrations but also integrates both sellside and Dark Algo liquidity in order to provide the broadest spectrum of block liquidity in the industry. With an emphasis on order control, BlockCross levels the playing field for all institutional block traders. Utilizing a unique confirmation process, the BlockCross platform maximizes print size, minimizes information leakage, and reduces false positives. BlockCross is designed and operated as an industry utility focused on staying responsive to the changing needs of the buyside block trading community.
Pulse Trading, Inc. is a full service independent agency brokerage firm that provides top quality stock and portfolio execution services on behalf of institutional investors. In addition to our conflict-free trading desks and BlockCross ATS, we also supply independent research, portfolio consulting and technology support for our buy-side clients. For more information about Pulse Trading, visit http://www.pulsetrading.com/.
Moxy® is the industry-leading OMS software deployed at over 800 firms which automates and streamlines the trading and order management process of partial and complete executions and allows the user to send allocation results to brokers electronically. Moxy® also provides Internet-ready electronic order routing based on the industry standard FIX messaging protocol, allowing users to route trades electronically to any FIX-compliant broker or crossing network that supports the Internet or other TCP/IP connections. For more information on Moxy®, click here.
Advent Software, Inc. (www.advent.com), a global company, has provided trusted solutions to the world’s leading financial professionals since 1983. Firms in 60 countries use Advent technology and manage investments totaling nearly US $18 trillion. 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 organization. For more information on Advent products, click here.
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, market acceptance of new products and services, the impact of initiatives by competitors 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 2007 annual report on Form 10-K/A, 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.
The Advent logo and Moxy are registered trademarks of Advent Software, Inc. All other company names or marks mentioned herein are those of their respective owners.
Advent Software, Inc.
Pulse Trading, Inc.