TORONTO and SAN FRANCISCO – May 19, 2009 – Advent Software, Inc. (NASDAQ: ADVS), a leading provider of software and services for the global investment management industry, announced today that it has expanded Advent® Custodial Data’s (ACD) custodian network with the recent addition of Penson Financial Services Canada (“Penson”). Penson is a subsidiary of Penson Worldwide, Inc. (NASDAQ: PNSN), a leading provider of execution, clearing, settlement and custody services for the global securities markets. Adding Penson to its network of more than 470 custodial sources gives Advent clients access to data from 10 of the leading Canadian banks, brokers and clearing firms.
Used by more than 2,500 firms to reconcile and report on over 2.5 million investment accounts, ACD is the industry’s most comprehensive, reliable, and functionally robust custodial data aggregation service. ACD delivers comprehensive data sourced directly from custody systems of record and is delivered through secure data feeds developed in partnership with each custodian. Instead of managing multiple connections, file formats, and processing workflows, clients securely retrieve their standardized files from all of their custodians through a single Internet connection.
“Client focus has always been the very core of the Penson business model, and seeking out the best and most current technology goes hand in hand with that philosophy,” said John Skain, President, Penson Financial Services Canada. “By joining the Advent network, we are more closely connected to our clients and better able to help them run their businesses efficiently and effectively. We look forward to continuing to deliver high quality custodial services that meet the growing and diversified needs of financial services customers in Canada.”
“We are very pleased to welcome Penson Financial Services Canada to our growing network of over 470 custodians,” said Jeff Gowan, Advent® Custodial Data Product Manager. “We feel that enabling our mutual clients to get data through our robust and secure network speaks to the commitment Penson Financial Services has to supplying their clients with industry leading tools to manage their business better.”
The expansion of custody services for clients in Canada demonstrates Advent’s continued focus on further developing its offering in Canada. With more than 50 clients in Canada, including asset managers, hedge funds, prime brokers and family offices, Advent’s mission-critical solutions have been helping Canadian firms improve operational efficiency, reduce risk, manage costs and enhance client service since 1988.
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. 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 http://www.advent.com/about/resources/demos/pr.
About Penson Worldwide
The Penson Worldwide group of companies provides execution, clearing, custody, settlement and technology infrastructure products and services to financial services firms and others servicing the global financial services industry. The Penson Worldwide group of companies includes Penson Financial Services, Inc., Penson Financial Services Canada Inc., Penson Financial Services Ltd., Nexa Technologies, Inc., Penson GHCO, Penson Asia Limited, and Penson Financial Services Australia Pty Ltd, among other companies. Headquartered in Dallas, Texas, Penson has served the clearing needs of the global financial services industry since 1995. Penson Worldwide - Building the Best Clearing and Execution Services Firm in the World.
Penson Financial Services, Inc. is a member of the New York Stock Exchange, NYSE Alternext, Chicago Stock Exchange, FINRA, the Chicago Board Options Exchange (CBOE), OneChicago, the International Securities Exchange (ISE), the NYSE Arca Exchange, the Options Clearing Corp (OCC), the MSRB, NSCC, ICMA, DTC, Euroclear, SIPC and is a participant of the Boston Options Exchange (BOX). Penson Financial Services Canada Inc. is a participating organization with the Toronto Stock Exchange, the Montreal Exchange, the CNQ Exchange and the TSX Venture Exchange, is regulated by the Investment Industry Regulatory Organization of Canada, is a member of the CIPF, CDCC and CDS and subscribes to various Canadian ATSs. Penson Financial Services Ltd. is a member of the London Stock Exchange and is authorized and regulated by the Financial Services Authority. Penson GHCO is a registered Futures Commission Merchant and clearing member at the Chicago Mercantile Exchange, Chicago Board of Trade, London International Financial Futures Exchange, and ICE Futures. For more information visit www.penson.com.
The statements in this news release relating to matters that are not current or historical facts are forward-looking statements. Such forward-looking statements are based on current plans, estimates and expectations. Forward-looking statements are based on known and unknown risks, assumptions, uncertainties and other factors. Penson's actual results, performance, or achievements may differ materially from any future results, performance, or achievements expressed or implied by such forward-looking statements. Penson undertakes no obligation to publicly update or revise any forward-looking statement.
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