Oppenheimer Capital and Wasatch Advisors Go Live with Compliance Management Solution from Advent Software and LatentZero

Oppenheimer Capital and Wasatch Advisors Go Live with Compliance Management Solution from Advent Software and LatentZero

New York, NY, September 17, 2003 - Advent Software, Inc. (Nasdaq: ADVS), the leading provider of software to the financial services industry, announces that Wasatch Advisors and Oppenheimer Capital, a subsidiary of Allianz Dresdner Asset Management of America, are live on Advent’s compliance management solution, which provides trade monitoring and reporting, centralization of compliance and oversight management. The solution is a feature component of “Advent for Asset Managers,” being announced separately today at Advent’s Fall Conference being held here this week. (See separate release titled “Advent Software Launches Comprehensive Asset Management Solution to Help Firms Control Operating Risk and Improve Client Service.”)

The compliance management solution is powered by LatentZero’s Sentinel product for pre- and post-trade compliance, which is fully integrated with Moxy®, Advent’s trade order management system. More investment management firms use Moxy than any competitive order management system. Combined, the two products offer a best-of-breed trade compliance management solution providing institutional money managers and fund administrators with a premier set of tools for risk prevention, trade monitoring and oversight.

“Investors are correctly focused not only on the quality of their investment results, but also on the quality of their managers’ operational processes,” said Geoff Mullen, Managing Director of Institutional Marketing and Client Service at Oppenheimer Capital. “This solution improves Oppenheimer Capital’s delivery of both.” According to Neil Dewar, SVP and Head of Business Systems of Allianz Dresdner, the firm was looking for enhanced compliance productivity, reduced business risk from trading, a single point of documentation and reporting, and required a sophisticated solution for managing the guideline process and integrating it with trade modeling. “The solution from Advent and LatentZero integrates the compliance and order management systems for us,” Dewar said.

The combined solution from Advent and LatentZero allows firms to:

  • Develop more complex compliance rules with expanded rule-creation functionality.
  • Easily apply rules from LatentZero's extensive predefined rule libraries covering the regulations of more than 15 countries, including US 2(a)7 rules and Securities Act of 1940 regulations, and create rules based on data imported from outside sources.
  • Conduct real-time pre-trade checks and comprehensive daily end-of-day post-trade checks.
  • Create restrictions relative to benchmark values and lists of data.
  • Create multiple, distinct warnings when a portfolio nears a compliance violation.
  • Apply rules to consolidated groups of accounts.
  • Create rules on any security type.
  • Automatically create an audit trail of compliance violations.
  • Run detailed reports on violations, rules, rule detail and much more.

“The right compliance solution is like an insurance policy. It is very important to us to ensure that we can meet our clients’ needs,” said Dwight Ricks, Chief Information Officer of Wasatch Advisors. “We were very impressed with the level of sector-level rule checking we can do with LatentZero and with its tight integration with Moxy.”

“Strict compliance with regulatory constraints, reaching peak operational efficiencies and creating cost savings top the list of priorities for investment management firms trying to garner more business from institutional accounts and high-net-worth individuals. With the comprehensive functionality we’re providing through this solution, firms have the tools they need to focus on their business and exceed client expectations,” said Peter Hess, Vice President of Marketing from Advent.

About LatentZero
LatentZero is an international business specializing in front-office portfolio management, trading and compliance products for asset management companies, custodians and central banks. All LatentZero products are multi-asset-class, supporting equity, fixed income, derivatives and currency functionality. LatentZero has offices in Boston, New York and London. Its products are used by a wide range of buy-side organizations, including five of the 10 largest global investment managers.

About Advent
Advent Software, Inc. (www.advent.com) has been providing trusted solutions to the world's leading financial professionals since 1983. Firms in 55 countries use Advent technology to manage investments totaling more than US $8 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.

Kathleen Golden
Advent Software, Inc.
301 Brannan Street
San Francisco  CA  94107
(415) 645-1336

Elizabeth Steed
Alexander Ogilvy
(415) 677-2729