Advent Software, Inc., (NASDAQ: ADVS), the leading provider of solutions to the global investment management industry, today announced a new alliance with J.P. Morgan FCS Corp. (FCS), the leading provider of technology solutions to the leveraged loan market, to complement the credit derivatives support functionality of GenevaÂ®. The two companies have agreed to jointly develop and market technical integration between GenevaÂ®, Adventâs investment management and accounting platform, and Wall Street Office, FCSâ suite of products for the administration, accounting and reporting of bank loans.
âAdvent is firmly committed to keeping GenevaÂ® at the forefront in supporting complex derivative instruments, and the use of bank debt in alternative investment strategies has grown enormously over the past several years,â said Chris Momsen, Vice President and Co-Head, Advent Global Accounts. âThe integration of Wall Street Office, along with recent enhancements to GenevaÂ®âs core bank debt functionality, will provide our clients with a comprehensive system for the accounting and administration of these instruments.â
As part of the agreement, Advent is developing a Wall Street Office integration component within GenevaÂ®âs workflow management toolset, allowing clients to automatically assimilate all bank loan activities directly from Wall Street Office into GenevaÂ® to produce consolidated reporting and full financial accounting. GenevaÂ® clients benefit from complete straight-through processing (STP) and validation for bank debt trades, including trade processing and settlement, reconciliation, documentation and loan maintenance.
"We have many clients and prospective clients in common with GenevaÂ®, and this agreement will ensure that the integration between our systems is easy for our joint clients to implement and manage,â said Mark Murray, President of J.P. Morgan FCS. âWe are excited to be working with Advent, a leader in the alternative investments space, to create a best-of-breed integrated offering for bank debt.â
The collaboration is part of Adventâs ongoing commitment to provide the industryâs leading and most complete integrated suite of products for investment managers.