Brown Brothers Harriman & Co. (BBH) and Advent Software, Inc. (NASDAQ:ADVS) announced today Advent has expanded its straight-through-processing (STP) reach through BBH Infomediary®, an integrated communications outsourcing solution.
BBH Infomediary® will now receive trades directly from Moxy®, Advent's industry-leading trade order management system used by more than 700 clients worldwide, to provide a gateway to communicate trade and standing settlement instructions in industry-standard formats to custodians, accounting agents, administrators, and other interested parties.
The linking of Infomediary® with Moxy® delivers a proven connectivity option for Moxy® users to create their own links to multiple external parties via SWIFT, the industry's communications network, or other industry formats via FTP, MQ, or Facsimile. Using Infomediary® as a SWIFT gateway can benefit Advent clients by improving STP, reducing the operational risk associated with manual processes, and improving efficiency through centralized post-trade custodian communications.
"By offering standard integration between Moxy® and Infomediary®, our customers will have another means of automating post-trade communications to their custodians and other interested parties, whether US or globally based," stated Will Clemens, Advent's VP of Straight Through Processing. "This partnership is further proof of Advent's deep commitment to deliver client-focused services that solve key pain points for our customers."
"We are delighted to work with Advent and their clients," says Taylor S. Bodman, BBH Partner. "Communicating in industry standard formats drives down operational cost and expands investment management opportunities for asset managers; Infomediary® was developed by BBH to deliver a combination of greater efficiency and expanded client capabilities, so we are pleased to be achieving both with this opportunity."
Asset management clients of Advent also benefit from the close integration of SWIFT and Infomediary®. BBH is a recognized SWIFT Solution Partner, providing end-to-end solutions to clients through consultancy, system integration and project management with proven SWIFT knowledge.