Boston, June 12, 2000 - Hub Data, a subsidiary of Advent Software, Inc. (Nasdaq: ADVS) announces eActions™, a first-of-its-kind corporate actions notification service that eliminates the manual effort involved in tracking corporate action changes. Geared to small and mid-size investment firms, eActions is a daily notification service that delivers automatic notification on all newly announced, modified or canceled actions affecting the securities held in users’ portfolios.
eActions was designed to solve the manual, unreliable and error-prone process many small and mid-size firms encounter when gathering and tracking corporate actions information. Completely Internet based, eActions consolidates and delivers actions information from Xcitek and CCH Incorporated, two of the industry’s leading sources of corporate actions data.
eActions features a New Activity report, which can be customized by the user, based on the types of securities in the user’s holdings file. This ensures that users receive only the action information that interest or affect them. Also featured is an online query tool that allows users to quickly obtain additional information on a specific security.
Mergers, spin-offs, name changes, bankruptcies, and called bond notifications are just some of the types of actions covered. Included in the service is the CCH Cost Basis Factor ¸, which is widely regarding as the industry standard for proper accounting treatment for complex corporate actions.
"Accurately tracking corporate action information is especially difficult for small and mid-size firms who may not have the resources to devote to this area," said Bob Huebscher, president of Hub Data. "We’re very happy to be able to bring an automated solution to growing investment firms."
Hub Data, based in Cambridge, MA, is a wholly owned subsidiary of Advent Software (NASDAQ: ADVS). Hub Data offers a full suite of enterprise-wide data management solutions, including services for market data, security master file conversions and scrubs, and custodial data.
Advent Software, Inc. is a trademark of Advent Software. All other products or services mentioned herein are trademarks or registered trademarks of their respective companies.
Advent Software, Inc.
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