More than 750 Clients Now Rely on Advent’s Moxy® for Efficient, Reliable Trade Order Management
New Moxy® Milestone Extends Advent’s Definitive Leadership in the OMS Market
SAN FRANCISCO – April 24, 2007 – Advent Software, Inc. (NASDAQ: ADVS), the leading provider of software and solutions for the investment management industry, today announced that the total number of Moxy® clients has exceeded 750, more than two and a half times the closest competitor.* With over 750 clients, Moxy®, the industry’s most widely used trade order management system (OMS), sets a new benchmark for market adoption and extends its leadership in the investment management industry.
Moxy® centralizes and automates trading and order management tasks, allowing clients to focus on the market and trading and investment strategies. With streamlined integration to Advent’s industry-leading portfolio accounting platforms, Moxy® enables internal and external straight through processing (STP) and brings together mission-critical functions across investment management organizations, increasing both productivity and profitability by removing manual and duplicate tasks in the trading process.
AWM Investment Co., Inc., a $1.3 billion, SEC-registered hedge fund manager, is among the Advent customers that have recently adopted Moxy®. “With Moxy®, I can enter and track my orders, see what my target is, what my working orders are, what trades I’ve completed, and what broker I am using,” said Tom Fradella, Head Trader at AWM Investment Co. “Moxy® keeps track of everything.”
Moxy® enables fast, precise trade creation and improved order execution. It streamlines the trade order management process to help traders scale their businesses, handle more accounts with fewer resources and improve connectivity with counterparties. Moxy® allows Advent customers to execute large block orders easily and quickly without sacrificing efficiency.
“Everything is now on my Moxy® platform, and it’s easy for everyone in the firm – portfolio managers, senior partners and others – to sign on to Moxy® and see everything that the desk is involved in,” continued Mr. Fradella. “Everyone can track where we stand, how many shares are open, what we’re working to – basically, it’s put us all on the same page.”
“We’re excited to welcome our newest Moxy® clients and pleased by the strong momentum we’re seeing for our entire suite of solutions,” said Pete Hess, Executive Vice President and General Manager of Advent’s IMG business. “Advent is delivering on our vision of providing the investment management industry with the most comprehensive suite of mission-critical software and services, which we continually look to enhance. We are proud to play a role in the success and growth of our more than 750 Moxy® clients, and we look forward to meeting their trading needs now and in the future.”
*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 Support Center Practices certification for being a world-class support organization.
Advent and Moxy are registered trademarks of Advent Software, Inc. All other company names or marks mentioned herein are those of their respective owners.
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 market acceptance of new products, the impact of initiatives by competitors and other risks detailed in Advent’s filings with the Securities and Exchange Commission, including, but not limited to, its annual report on Form 10-K and quarterly reports on Form 10-Q, as amended, 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