EdgeTrade's Algorithms Integrated with Advent's Moxy(R) Trade Order Management System; First Independent, Agency-Only Algorithms and Consultative Services Available To Moxy(R) Clients.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- EdgeTrade, the independent, agency-only broker and developer of algorithmic strategies and direct market access (DMA (1) (Digital Media Adapter) See digital media hub. (2) (Document Management Alliance) A specification that provides a common interface for accessing and searching document databases. ) software, today announced full integration of its algorithms with Advent Software's Moxy(R) trade order management system. On the heels of an announcement made by Advent last month with ten other brokers, the EdgeTrade partnership expands Moxy(R)'s capabilities by adding algorithms developed by an independent, agency-only firm. Client firms of EdgeTrade, of which there are more than 150 in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. and Europe, include hedge funds, mutual funds, asset management firms This is a list of corporations that provide financial asset management.
"We are certain that Advent's Moxy(R) clients will appreciate the significance of having access to our independent, agency-only algorithms," said EdgeTrade CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , Joseph Wald. "EdgeTrade fosters a consultative bond with clients, to ensure their trading objectives are being supported. As such, we will work with Moxy(R) clients to construct highly specialized tools that help them trade a choice of styles - adapted to their specific trading goals - more effectively and efficiently. Whether it's customized or brand new algorithmic trading Algorithmic Trading A trading system that utilizes very advanced mathematical models for making transaction decisions in the financial markets. The strict rules built into the model attempt to determine the optimal time for an order to be placed that will cause the least amount of strategies, or high level training in the use of any electronic trading tool in our product suite, EdgeTrade understands that true value is derived by how well we consistently listen and respond to each trader. Traders share sensitive information with us as they trust that EdgeTrade's independent, agency-only model will never compete against them." EdgeTrade's overarching mission is to empower traders with an unconflicted, agency-only model that offers high-speed and quality of anonymous execution, coupled with innovative trading technology. "Our goal is to provide Moxy(R) clients with a range of innovative tools from the sell-side," said Will Clemens, vice president of Advent's straight-through processing straight-through processing The direct exchange of cash and securities. Straight-through processing is a major objective for cross-border transactions that are generally much more costly to settle compared to domestic transactions. business line. "Integrating EdgeTrade's algorithms with Moxy(R) will give our buy-side trading clients first-time access to algorithms developed by an independent, agency only broker and another option for trade execution." EdgeTrade is gaining widespread recognition for its array of sophisticated algorithmic strategies, organically developed and customized for each client by the firm's quantitative team. Through Execution Management System (EMS), EdgeTrade's independent, agency front-end platform, institutional buy-side and sell-side traders place single stock and basket equity orders. A high-speed gateway to multiple execution venues, DMA order types, algorithmic trading strategies and low latency market data, EMS may be customized to each trader's screen specifications. While a holistic offering, EMS is modularly designed to give traders what they want and how. For instance, a trader may integrate EdgeTrade's algorithms into their own front-end rather than using EMS. As an open platform, traders have the option of connecting to EMS via FIX (Financial Information eXchange) or through other trading and order management systems. EdgeTrade's algorithmic strategies and direct market access order types are currently integrated with major industry trading and order management systems. About Advent Advent Software, Inc., a multi-national company, has been providing trusted solutions to the world's leading financial professionals since 1983. Firms in 50 countries using Advent technology manage investments totaling more than US $8 trillion. Advent's quality software, data and services enable financial professionals to improve service and communication to their clients, allowing them to grow their business while controlling costs. Forward Looking Statements Any forward looking statements included in this press release involve risks and uncertainties that could cause actual results to differ materially from our expectations. These risks and uncertainties include market acceptance of new products, the impact of initiatives by competitors and other risks detailed in Advent's filings with the Securities and Exchange Commission, including, but not limited to, its annual report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. and quarterly reports on Form 10-Q Form 10-Q See 10-Q. , as amended, copies of which may be obtained by contacting Advent Software at 415-645-1787, or by visiting Advent's Investor Relations Investor relations The process by which the corporation communicates with its investors. website at www.advent.com. About EdgeTrade Inc. Established in 1996, EdgeTrade has carved a sterling reputation for its integrity, uncompromised trading and execution services, and superior technological development of algorithmic strategies and direct market access software. An independent, agency only broker-dealer and software developer, EdgeTrade never conducts principal or proprietary trading Proprietary Trading When a firm trades for direct gain instead of commission dollars. Essentially, the firm has decided to profit from the market rather than commissions from processing trades. . EdgeTrade has a client base of 150 institutional firms in North America and Europe and is a member of the NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). and SIPC (Simply Interactive PC) An earlier umbrella term from Microsoft and Intel for a PC that works like a home appliance. For example, it has a sealed case, uses external connectors for expansion and boots in just a couple of seconds. . For more information on EdgeTrade visit www.edgetrade.com. ADVENT and MOXY are registered trademarks of Advent Software, Inc. or its subsidiaries. All other company names or marks mentioned herein are those of their respective owners. |
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