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Saudi Fransi Capital Implements Advent(R) Solutions to Support GrowthLarge Brokerage and Investment Management Firm in the Kingdom of Saudi Arabia Relies on Advent to Improve Performance and Client Service (January 10, 2012)
SAN FRANCISCO, CA and LONDON -- (Marketwire) -- 01/10/12 -- Advent Software, Inc. (NASDAQ: ADVS), a leading provider of software and services for the global investment management industry, today announced the successful implementation of its asset management solution* at Saudi Fransi Capital, to help it provide enhanced services to clients.
Saudi Fransi Capital is one of the largest brokers in the Saudi Stock Exchange (Tadawul) and a leading Saudi Arabia-based provider of brokerage and investment banking services, such as corporate finance, asset management and advisory investment management.
Saudi Fransi Capital chose to build a new foundation for operations with Advent to take advantage of comprehensive functionality, cost-efficiency, the availability of regional presence and support, and full front-to-back office solutions, offered by a single vendor. Advent's technology platform also met Saudi Fransi Capital's rigorous requirements to achieve improved risk management, performance measurement and reporting.
"We needed better automation capabilities and a decrease in manual intervention in our operations," said Yasir Al-Rumayyan, CEO of Saudi Fransi Capital. "Advent allowed us to improve core functionality while fulfilling business requirements. We value Advent as a long-term strategic partner for us, offering local team support and comprehensive asset class coverage, as well as the scalability to support our future growth. We've so far been comforted in our decision by the rapid implementation process, which was a result of a good solution, understanding of our business requirements and project management."
"Being selected by Saudi Fransi Capital, thus adding another Middle Eastern Tier One institution to our client roster, validates our ability to support infrastructure globally while delivering deep local expertise and knowledge through our regional team," said Håkan Valberg, senior vice president and general manager, Advent Software EMEA. "This is a significant win for us, confirming our success in the region in recent years and months, showing that Advent continues to offer operational efficiencies and value as a single solution vendor for investment management organizations in the Middle East."
* Advent's asset management solutions include Advent Tradex® for fund order management, Geneva®, Advent's award-winning global portfolio management and fund accounting solution, and the Moxy® trade order management system.
Moxy® is the industry-leading OMS deployed at over 850 firms which automates and streamlines the trading and order management process of investment executions and allows the user to send post trade allocation results to brokers electronically. Moxy® 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. For more information on Moxy® visit https://secure.advent.com/info/pr_moxy.
About Advent Tradex®
Advent Tradex® is ideal for organizations seeking a reliable, web-based fund distribution platform. With Advent Tradex®, an unlimited amount of funds and their associated order types are made available to client advisors, branches, agents and the end clients. The order flow from initiation to back-office and through to the funds' administrators becomes highly automated -- a process which otherwise is very labor intensive and error prone. In addition to subscriptions and redemptions, Advent Tradex® elegantly handles fund switches, model orders, savings/pension plans, currency dealing, and fund and cash transfers. Advent Tradex® also manages fees and sales commissions. For more information on Advent Tradex®, visit https://secure.advent.com/info/pr_tradex.
Geneva®, a global portfolio management and accounting platform, is a proven solution for asset managers, hedge funds, fund administrators, prime brokers, and mutual funds that require a high level of operational efficiency and easy access to real time data. Geneva® offers comprehensive instrument coverage, full financial general ledger, and industry-standard integration tools to enable firms to manage complex investment vehicles, multiple investment strategies, and tiered fund structures. For more information on Geneva® visit https://secure.advent.com/info/geneva_livedemo.
Advent Software, Inc., a global firm, has provided trusted solutions to the world's financial professionals since 1983. Firms in more than 60 countries count on Advent technology to run their mission-critical operations. Advent's quality software, data, services and tools enable financial professionals to improve service and communication to their clients, allowing them to grow their business while controlling operational risks and costs. Advent is the only financial services software company to be awarded the Service Capability and Performance certification for being a world-class support and services organization. For more information on Advent products visit http://www.advent.com/about/resources/demos/pr.
Advent, the Advent logo, Advent Software, Moxy, Advent Tradex and Geneva are registered trademarks of Advent Software, Inc. Advent Tradex is a registered mark of Advent Software, Inc. in the UAE, Bahrain and Lebanon. All other company names or marks mentioned herein are those of their respective owners.
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