The Industry’s Most Widely Used Trade Order Management System Now Offers Alternative Asset Traders Flexibility and Connectivity
San Francisco, September 20, 2004 – Advent Software, Inc. (NASDAQ: ADVS) announced it has launched a new version of Moxy® with significant enhancements designed specifically for hedge funds. Moxy® is the industry’s most widely used trade order management system with more than 650 client firms.
"Hedge funds require a flexible, easy-to-use solution that maximizes trader efficiency, offers comprehensive global security coverage, and gives them connectivity to a wide variety of trading partners. Moxy® delivers these important components, and combines them with simplified integration with the back office system of their choice," said Dan Nye, Executive Vice President, Advent Software.
Moxy® enables fast, precise trade creation and improved order execution. By streamlining the trade order management process, Moxy® helps traders scale their businesses, handle more accounts with fewer resources and improve connectivity with counterparties.
Moxy®’s expanded functionality includes:
· Real-time P&L view – flexible real-time profit and loss tool enables managers and traders to track positions down to the tax-lot level
· Comprehensive security coverage – extensive instrument coverage enables the trading of equities, fixed income securities, foreign securities and derivatives, including swaps and forward contracts, in a more streamlined manner
· Enhanced trader workflow – increased flexibility allows traders to customize their trading process
· Foreign trading enhancements – allows traders to settle in any currency, enabling true multi-currency settlement
· Increased connectivity – using FIX messaging to allow electronic trading with more counterparties than ever before
· Highly integrated functionality – allows firms of all sizes to integrate easily with Advent applications or with other back office portfolio management systems
"We had the unique requirements of the hedge fund community in mind during the development of this version of Moxy®. We are confident that Moxy® will satisfy both the demands of firms’ current trading environments, as well as their future requirements as their investment strategies grow more complex," said Mike Gamson, director of Advent’s trade order management and compliance group.