"Phase3 provides Adams Harkness with a more integrated, straight-through trade flow that helps reduce manual and redundant tasks, provides flexibility in the use of our data, and helps improve our efficiencies while containing costs," said Stephen Zak, chief financial officer at Adams Harkness, Inc. "Phase3 is well matched for broker/dealers like ours that are institutional focused and larger in size and scope."
Adams Harkness uses Phase3’s real-time interfaces with the Omgeo ALERT(SM) global database for settlement and account instructions and the Omgeo OASYS(SM) U.S. trade allocation and acceptance service, in order that information entered into OASYS is automatically updated in Phase3 in real-time, and name and address instructions are managed seamlessly between Phase3 and ALERT. In addition, Adams Harkness uses Phase3’s real-time Replication Services to replicate information from Phase3 to the firm’s internal systems for generating management reports as well as profit and loss (P&L) reporting on trading activity, for example, and performing ad hoc search queries.
"We are really happy to see a firm like Adams Harkness leverage the strength of our single database application that supports global processing," said Gerard Murphy, president of SunGard Securities Processing’s Phase3 unit. "They’re taking advantage of the institutional strengths of Phase3 and its ability to process any type of transaction, without having to use multiple platforms to get the job done. Phase3 is a leading provider of this capability within the space of self-clearing, books and records processing."
Headquartered in Boston, Mass. and with offices in New York and San Francisco, Adams Harkness is a privately held institutional investment bank focused on growth companies in the technology, healthcare and consumer sectors. Adams Harkness offers investment banking, institutional sales and trading, asset management, venture capital investment, and corporate wealth management services.
About SunGard Securities Processing
SunGard Securities Processing provides real-time, Web-enabled clearance and settlement, accounting and operations workflow solutions for broker/dealers, banks and futures brokers. Provided in an ASP environment, SunGard's straight-through processing solutions are designed to lower transaction costs, reduce risk, adapt easily to industry changes and provide a competitive advantage. Additional information is available on the Web at www.sungard.com/securitiesprocessing.
