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SunGard and Advent Software launch new workflow for Wrap/Separately Managed Accounts

Monday, July 09, 2012
Opalesque Industry Update: SunGard and Advent Software, Inc., leading providers of software and services for the global financial services and investment management industry, have introduced an integrated trading solution that helps “wrap” managers conduct business with sponsors directly via the SunGard Global Network (SGN) and Advent’s Moxy® order management system (OMS). This centralized and automated solution helps firms expand their separately managed account (SMA) business more quickly, increase efficiency and reduce costs and errors.

“Wrap” managers oversee an investor's portfolio for a flat quarterly or annual fee that covers all administrative, commission and management expenses. These businesses, also known as SMA programs, can be an effective way for asset managers of all sizes to increase assets and capital. However, managers must manually extract data from an OMS and upload the information to a wrap sponsor platform in order to execute each trade, which creates operational inefficiencies.

SunGard and Advent’s solution provides centralized trading and connectivity tools and automates the flow of data from multiple sponsors into and out of Moxy® OMS, creating a more efficient workflow. It also includes an allocation and post-trade system that uses the industry standard FIX protocol to deliver allocation messages in whatever format required by the wrap sponsor. The combined solution helps customers increase their pace of adoption of SMA programs, expand their existing business and reduce the effort necessary to maintain these programs.

Aaron Adolphson, product manager for order management solutions at Advent Software, said, “Wrap/SMA managers today face increased operational challenges managing multiple sponsors and workflows. Managers can take advantage of SunGard and Advent’s integrated solution to simplify the complexity of managing these types of accounts and more fully leverage the growth potential that the accounts provide to their business.”

Ralston Roberts, senior managing director for the SunGard Global Network business unit, said, “The growth of separately managed account programs is fueling the demand for integrated tools that provide efficiency as account volume increases. SunGard’s collaboration with Advent provides a single solution for managing trading and settlement activity, helping customers improve their workflow efficiency and reduce errors and costs.”


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