Advent Software (NASDAQ: ADVS), a leading provider of software and services for the global investment management industry, today announced that Knightsbridge Asset Management LLC is enjoying faster time to market and greater productivity with Moxy, Advent's trade order management solution (OMS).
With more than 850 clients, Moxy is the most widely used OMS in the industry.
Knightsbridge is an asset management firm with more than $950 million in assets under management as of September 30, 2009. Prior to implementing Moxy, the firm was using a manually intensive spreadsheet-based process to rebalance portfolios, prepare trades and check restrictions. Knightsbridge needed a faster, more accurate and automated process for generating trades to execute its investment strategy, and turned to Moxy for its proven reputation in the industry.
"Moxy serves as the hub of our trading operation and has dramatically improved our trading time to market in the areas of trade order preparation and rules checking; as a result, we can get trades out in a quarter of the time it used to take," said Chad Neault, Analyst, Knightsbridge Asset Management. "On a highly liquid stock, it used to take us up to one business day to prepare an order across all of our accounts - to make sure we were not violating restrictions and we were getting everyone's cash levels right. Now with Moxy, we feel comfortable doing that within a couple of hours."
Neault concluded, "With Advent, we feel that we are able to implement our investment team's decisions expediently and more accurately. Not only does Moxy provide our firm's staff with a streamlined trading solution, it has also enhanced our offering to clients and partners by dramatically improving time to trade."
"Moxy continues to demonstrate its ability to meet and support a myriad of trading workflows; it provides Knightsbridge with a highly streamlined process for preparing and executing trades," said John Bird, Director of Product Marketing at Advent. "Advent is committed to helping our customers better serve their clients by helping them reduce their trading costs, improve their productivity and their overall performance."