Lombard, IL and San Francisco– November 13, 2006 – SunGard (www.sungard.com) and Advent Software (NASDAQ:ADVS) today announced the availability of STN for SWIFT to investment managers using Moxy®, Advent’s trade order management system.
Leveraging SunGard’s reliable infrastructure and messaging expertise, STN for SWIFT helps investment managers experience the benefits of SWIFT membership on an ASP basis – helping avoid the resources and expense required to support their own SWIFT environment. STN for SWIFT, which is available to all customers connected to the SunGard Transaction Network (STN), is part of SunGard’s expanded set of trade automation and connectivity solutions, which include order routing, execution services, trade matching, confirm/affirm processing, FIX allocations and settlement notifications.
The integration with Advent helps Moxy® users leverage SunGard’s SWIFT membership to transmit trade instructions to their custodians and other interested parties over the SWIFT network using industry standard formats. The solution includes a user-friendly front-end interface for tracking messages as well as updating trade settlement instructions.
“Using the STN for SWIFT messaging extract directly from our Moxy® system has helped Optimum to reduce time and errors when reporting trades and make significant strides in moving towards a straight-through processing environment,” stated Michelle Katauskas, director of operations and trading, Optimum Investment Advisors. “Without utilizing STN for SWIFT to access the SWIFT community, we would not have been able to automate this portion of our operations, as the implementation and expense of joining SWIFT on our own would have been nearly impossible.”
“We are pleased to work with SunGard to bring additional post-trade automation services to our customers,” stated Will Clemens, Advent’s vice president of Straight-Through Processing. “This is another example of Advent’s commitment to delivering workflow solutions to help our customers achieve a more efficient operating environment. In addition, this expands the capabilities that we have developed with SunGard, which also enables customers to send orders, receive executions, send allocations, and receive DTCC confirms.”
FORWARD LOOKING STATEMENTS
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 website at www.advent.com.
Trademark Information: SunGard, the SunGard logo and STN are trademarks or registered trademarks of SunGard Data Systems Inc. or its subsidiaries in the U.S. and other countries. All other trade names are trademarks or registered trademarks of their respective holders. Advent and Moxy are registered trademarks of Advent Software, Inc. All other trade names are trademarks or registered trademarks of their respective holders.
Brokerage products and services offered by STN are provided by SunGard Institutional Brokerage Inc., member NASD/SIPC.