Advent passes 100 Moxy clients in Europe, Middle East and Africa

Date: Wednesday, July 2, 2008
Author: Hedgeweek.com

Advent Software, a provider of software and services for the global investment management industry, has announced that the total number of clients for its Moxy trade order management solution has passed 100 in Europe, the Middle East and Africa.

With more than 800 clients, Moxy is the industry's most widely used trade order management system software. Clients in Europe, the Middle East and Africa include asset managers, hedge funds, bank and trust asset managers and broker-dealers ranging in size of assets under management from USD250m to more than USD60bn.

Investment management firms based in Europe and the Middle East such as Killik & Co, Raymond James Investment Services and Dubai's Shuaa Capital have selected Moxy to automate and centralise trading and order management tasks, offering better control of work flow processes within trade order management function.

'Moxy provides the order management solution that Raymond James Investment Services needs today, and also positions us well for our expected continued growth,' says chief executive Peter Moores. 'Moxy's functionality allows for simple orders through to complex model portfolios, as well as workflow efficiencies for our investment managers and advisers, while also streamlining the trading and settlement process across multiple custodians.'

Advent vice-president for product marketing Chris Flynn says: 'Moxy's growing client base in EMEA is an affirmation of the product's industry-leading reputation. It is designed to evolve with the complex needs of our customers, reinforcing our commitment to innovation and to expanding our leadership in the trade order management space. Moxy's strength in the region is mirrored across Advent's product suite.'

Moxy automates and streamlines the trading and order management process of partial and complete executions and allows the user to send allocation results to brokers electronically. It 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.

Founded in 1983, Advent Software provides technology to firms in 60 countries that manage investments totalling nearly USD18trn.