SunGard and Advent Software this week announced the availability of STN for SWIFT to investment managers using Moxy®, Advent's trade order management system.
 
Leveraging SunGard's reliable infrastructure and messaging expertise, STN for SWIFT helps investment managers experience the benefits of SWIFT membership on an ASP basis - helping avoid the resources and expense required to support their own SWIFT environment.  STN for SWIFT, which is available to all customers connected to the SunGard Transaction Network (STN), is part of SunGard's expanded set of trade automation and connectivity solutions, which include order routing, execution services, trade matching, confirm/affirm processing, FIX allocations and settlement notifications.  
 
The integration with Advent helps Moxy® users leverage SunGard's SWIFT membership to transmit trade instructions to their custodians and other interested parties over the SWIFT network using industry standard formats.  The solution includes a user-friendly front-end interface for tracking messages as well as updating trade settlement instructions.
 
'Using the STN for SWIFT messaging extract directly from our Moxy® system has helped Optimum to reduce time and errors when reporting trades and make significant strides in moving towards a straight-through processing environment,' stated Michelle Katauskas, director of operations and trading, Optimum Investment Advisors.  'Without utilizing STN for SWIFT to access the SWIFT community, we would not have been able to automate this portion of our operations, as the implementation and expense of joining SWIFT on our own would have been nearly impossible.'
 
 'We are pleased to work with SunGard to bring additional post-trade automation services to our customers,' stated Will Clemens, Advent's vice president of Straight-Through Processing.  'This is another example of Advent's commitment to delivering workflow solutions to help our customers achieve a more efficient operating environment. In addition, this expands the capabilities that we have developed with SunGard, which also enables customers to send orders, receive executions, send allocations, and receive DTCC confirms.'
 
'Some 1,800 asset managers, 1,000 issuers, and 200 broker/dealers are connected to STN.  Many investment management firms and hedge funds require the services and reliability that SWIFT offers, but the in-house expertise to take on a full SWIFT implementation themselves is not always available," said Mark Volker, senior vice president of the SunGard Transaction Network.  'By providing SWIFT connectivity in an ASP environment, STN is able to help its customers achieve enhanced trade automation that is integrated into their order management system, such as Advent's Moxy®.'

       

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