SAN FRANCISCO – January 8, 2007 – Advent Software, Inc., (NASDAQ: ADVS), the leading provider of software and solutions for the global investment management industry, today announced that the total number of Moxy® clients has reached 800, highlighting the product's industry leadership and continued momentum.
Moxy® is the most comprehensive trading and order management toolset in the marketplace. With 800 clients, it is the industry’s most widely used trade order management system (OMS) by more than 250%, according to analyst estimates.* Moxy® sets the standard for simplifying portfolio construction, execution, allocation and post-trade notification, improving portfolio performance and increasing trading desk productivity.
Moxy®’s client base is comprised of a diverse range of investment management firms in the U.S. and EMEA region. Clients include asset managers, hedge funds, bank/trust asset managers and broker dealers and range in size from $250 million in assets under management to more than $60 billion. Currently, Moxy® has more than 100 institutional and high-net-worth hybrid asset managers with over $5 billion in assets under management.
Dubuque Bank and Trust, one of the largest commercial banks in the state of Iowa, selected Moxy® to gain better control of their work flow processes within their trade order management function.
“Moxy® has been the catalyst for a more efficient trading operation, enabling us to handle business growth without having to increase trading resources,” said Paul Peckosh, Executive Vice President, Dubuque Bank and Trust. “Moxy® has allowed us to increase the level of automation, improve operational efficiency and upgrade our compliance processes -- and Advent’s dedicated Moxy® support team has been invaluable.”
"We are very excited to reach this significant milestone -- surpassing the 800 customer mark is a testament to Moxy®’s industry-leading capabilities and proven scalability,” said John Bird, Moxy® Product Line Manager at Advent. “The steady growth in Moxy®’s customer base demonstrates Advent’s commitment to delivering a superior product, and providing the highest level of service to our clients.”
In June 2007, Advent launched Moxy® 6.0, which marked another milestone in the evolution of Advent’s award-winning trade order management system. Moxy® 6.0 features a new n-tier architecture that leverages Microsoft SQL 2005 and .NET 2.0, which offers clients greater scalability for growth. With the flexibility of Moxy® 6.0, firms can customize order management to their individual needs and optimize their workflows.
*Source: Aite Group, “EMS v. OMS: Fiction or Reality?” by Sang Lee and Brad Bailey; January 2007.
Moxy® automates and streamlines the trading and order management process of partial and complete executions and allows the user to send allocation results using OASYS, an external electronic allocation system, to communicate allocations 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.
Advent Software, Inc. (www.advent.com), a multi-national firm, 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 $14 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.
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 and other risks detailed in Advent’s most recent filings with the Securities and Exchange Commission, including, but not limited to, its annual report on Form 10-K/A and quarterly report on Form 10-Q, 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 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.