Netik LLC, the industry's leading financial data management company today announced an alliance with Advent Software, Inc., (NASDAQ: ADVS), a leading provider of software and solutions for the global investment management industry, to integrate Geneva®, Advent’s award-winning portfolio management and fund accounting solution, and Netik Global Securities Master, Netik GSMTM, a fully managed data service solution and utility for reference and market data. Netik GSM provides a single source of reference and market data for Geneva® and leverages the Advent - Netik connectivity.
Netik and Advent have invested in an adapter, available ‘off-the-shelf’, to combine the two products. The new Geneva® / Netik GSM Adapter solution will be licensed to users through Netik and will be maintained by both companies.
Geneva® / Netik GSM Adapter significantly enhances the delivery of reference and market data for downstream distribution and full integration with consuming applications. The combined solution provides hedge funds, prime brokers and fund administrators with a best-of-breed solution for reference and market data.
Todd Gottula, Senior Vice President and Co-Head of Global Accounts for Advent, said “Geneva® has delivered world class accounting and transaction processing to the market for more than a decade. Now, with a fully managed service solution for reference and market data provided by Netik GSM, new prospects and existing customers have access to a single source of the highest quality reference and market data.”
John Wise, Chief Executive Officer of Netik, stated: “Many of the leading fund administrators and prime brokers already use Advent and Netik. Today, through this alliance with Advent, we are making Netik GSM readily available to the hedge fund market. Getting reference and market data correct is key to any Geneva® implementation and indeed any solution for hedge funds, and with over two decades of proven experience, Netik GSM is ideally positioned to deliver this. Hedge funds can quickly and easily select their universe from the Netik GSM utility, enabling Netik GSM to be implemented within days.
Wise continues: “Our combined offering provides customers with a truly end-to-end solution for reference and market data.”
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