SAN FRANCISCO – December 15, 2009 – Advent Software, Inc. (NASDAQ: ADVS), a leading provider of software and services for the global investment management industry, today announced that Knightsbridge Asset Management LLC is enjoying faster time to market and greater productivity with Moxy®, Advent’s trade order management solution (OMS). With more than 850 clients, Moxy® is the most widely used OMS in the industry.
Knightsbridge is an asset management firm with more than $950 million in assets under management as of September 30, 2009. Prior to implementing Moxy®, the firm was using a manually intensive spreadsheet-based process to rebalance portfolios, prepare trades and check restrictions. Knightsbridge needed a faster, more accurate and automated process for generating trades to execute their investment strategy, and turned to Moxy® for its proven reputation in the industry.
“Moxy® serves as the hub of our trading operation and has dramatically improved our trading time to market in the areas of trade order preparation and rules checking; as a result, we can get trades out in a quarter of the time it used to take,” said Chad Neault, Analyst, Knightsbridge Asset Management. “On a highly liquid stock, it used to take us up to one business day to prepare an order across all of our accounts – to make sure we were not violating restrictions and we were getting everyone’s cash levels right. Now with Moxy®, we feel comfortable doing that within a couple of hours.”
Neault concluded, “With Advent, we feel that we are able to implement our investment team’s decisions expediently and more accurately. Not only does Moxy® provide our firm’s staff with a streamlined trading solution, it has also enhanced our offering to clients and partners by dramatically improving time to trade.”
“Moxy® continues to demonstrate its ability to meet and support a myriad of trading workflows; it provides Knightsbridge with a highly streamlined process for preparing and executing trades,” said John Bird, Director of Product Marketing at Advent. “Advent is committed to helping our customers better serve their clients by helping them reduce their trading costs, improve their productivity and their overall performance.”
Moxy® is the industry-leading OMS deployed at over 850 firms which automates and streamlines the trading and order management process of investment executions and allows the user to send post trade 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® visit https://secure.advent.com/info/pr_moxy.
Advent Software, Inc., a global firm, has provided trusted solutions to the world’s financial professionals since 1983. Today firms in 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 http://www.advent.com/about/resources/demos/pr.
Advent, the Advent logo, Advent Software 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.