SAN FRANCISCO – January 26, 2010 – Advent Software, Inc. (NASDAQ: ADVS), a leading provider of software and services for the global investment management industry, today announced the release of Axys® 3.8, an important update to Advent’s turnkey portfolio accounting and reporting solution. The latest release of Axys® marks Advent’s continued commitment to keeping the platform current as technology and regulatory changes impact its client base.
The accounting, performance, automated reconciliation, and reporting tools in Axys® enable firms to easily manage an expansive number of accounts and a range of investment instruments. The solution is used by over 3,000 asset management clients around the globe - including hedge funds, family offices, wealth managers, registered investment advisors and financial planners.
Axys® 3.8 includes updates to support the 2010 Options Symbology Initiative (OSI). OSI is an industry-wide overhaul of the longstanding five-character options symbol. On February 12, 2010, the options industry is shifting to a more descriptive character string that is up to 21 characters in length.
In addition to enhancements to support the 2010 OSI, other updates to Axys® 3.8 include: reporting enhancements and compatibility with new platforms, including Adobe Acrobat 9 and Microsoft Internet Explorer 8.
Lynne Rosenfeld, Chief Administrative Officer, Soundview Capital Management Corporation, commented, “We have relied on Axys® as the core technology platform of our investment operations for the past five years. As a firm that constantly trades options, we were worried about how we would handle the industry’s option symbol change. We have been extremely pleased to see that the new OSI platform in the Axys® 3.8 update has made the transition seamless to our workflow. The enhancements and timing of this release demonstrate Advent’s commitment to keeping Axys® current for its clients in these changing times.”
“We are very pleased to provide our clients with Axys® 3.8, our second new release to the product in just over a year,” said Michele Holton, Director of Product Marketing at Advent. “The updates to support OSI, as well as the platform compatibility and reporting enhancements help us to continue to deliver outstanding value to our 3,000-plus Axys® customers who rely on the solution to run their investment management business.”
In addition to releasing Axys® 3.8, Advent has also released a new version of Advent® General Ledger Exchange (GLX), its general ledger interface tool. The latest version of GLX, version 2.5, includes support for OSI, as well as allowing for compression of journal entries, the ability to post unrealized gains on market, and numerous other product enhancements.
Advent Software, Inc., a global firm, has provided trusted solutions to the world’s financial professionals since 1983. Today firms in more than 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 product 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, market acceptance of new products, the impact of initiatives by competitors, changes in market 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 and Axys are registered trademarks of Advent Software, Inc. All other company names or marks mentioned herein are those of their respective owners.
Advent Software, Inc.