Advent Software (NASDAQ: ADVS) a leading provider of software and services for the global investment management industry, today announced that it has entered into an alliance with Rimes Technologies Corporation to expand availability of index data to its clients using Advent Portfolio Exchange (APX), its award-winning, integrated portfolio and client relationship management solution.
RIMES is one of the leading benchmark data management providers for the investment community. Through this agreement, Advent will promote RIMES' fully managed data aggregation service to its APX clients, globally. RIMES will make available to locally-installed APX clients streamlined access to additional sources of index data for use with the performance analytics capabilities that are built into the APX platform.
Advent's relationship with RIMES will complement Advent's index data service, which offers APX clients Standard & Poor's and Russell Investments security and sector level index performance data, providing seamless automation and integration with APX's performance analytics.
George McLaughlin, Senior Director at Advent, commented, "We're very pleased about our relationship with RIMES who, as a leading provider of index data aggregation services, can provide Advent clients with access to a broad array of index data. Furthermore, this alliance illustrates Advent's continued commitment to partnering with best-of-breed solutions providers that enhance our core capabilities."
Jean Edouard Van Praet, Senior Partner at RIMES, commented, "Combining RIMES' breadth and depth of data and its award-winning fully managed service with APX's performance analytics capabilities will provide performance measurement and attribution professionals with a powerful portfolio analytics platform. We look forward to working with the Advent team and its clients."