Exchange Data International Announces Agreement with Advent
Advent incorporates Exchange Data International’s Worldwide Equities and Fixed
Income Corporate Actions into its Straight-Through-Processing Service
London - September 25, 2008 – Exchange Data International
(EDI), a well-established provider of reference and corporate actions data,
announced today an agreement with Advent Software, Inc. (NASDAQ: ADVS), a
leading provider of software and services for the investment management
industry. EDI will provide comprehensive Worldwide Equities and Fixed Income
Corporate Actions data to Advent clients using Advent Corporate Actions® (ACA),
Advent’s straight-through-processing service. This is Advent’s third
international data vendor available through ACA.
ACA delivers customized, position-level corporate action reports for a broad
range of action and security types, along with market effective transactions
for mandatory U.S. equity and ADR events, including tax compliant details.
Using ACA, firms can: track actions from announcement through effective date;
receive alerts containing revisions and processing tips; and gain access to a
dedicated team of corporate action specialists who assist advisory staff with
processing details and the interpretation and confirmation of complex tax
opinions.
Advent added both EDI's Worldwide and Fixed Income Corporate Actions Service to
its ACA offering. With data sourced directly from all of the world’s major
stock exchanges, the Worldwide Corporate Actions service provides up-to-date
and accurate equity-based corporate actions information, and provides coverage
on over 150 International Exchanges, with detailed announcements on over 50
corporate actions event types. EDI’s Fixed Income Corporate Actions Service
follows corporate actions events on nearly 400,000 bonds from 100 countries and
Supranationals. In addition to interest payments (both fixed and floating), the
fixed income service covers additional specialised event types. The data is
sourced from stock exchanges, central banks, ministries of finance, paying and
transfer agents.
“We are very excited about our new relationship with Advent, as it brings EDI’s
data to a new audience,” said Kevin Brady, Executive Director for Exchange Data
International. “Advent is a leader in their space, and this relationship
demonstrates EDI’s commitment to building strong relationships with market
leaders to provide the industry with high standard services.”
“We are delighted to be working with EDI in order to expand our international
data offering,” said Alison Swabowicz, Senior Straight-Through-Processing
Product Manager at Advent. “Recently we have seen increased interest in
international corporate action data; and as we've seen more clients diversify
into international markets, it has become apparent the importance for Advent to
maximize coverage across a wide range of countries and corporate action types.”
Advent currently has over 325 ACA clients. ACA’s user base includes clients
using Advent's portfolio management and accounting platforms – Advent Portfolio
Exchange®, Geneva® and Axys®, as well as clients using other products.
About EDI
EDI is the premier provider of multiple asset class Worldwide Securities
Reference and Corporate Actions Data, with an established global reputation for
the highest quality and accuracy. EDI specializes in the integration,
aggregation and flexible delivery of structured data to facilitate investment
research, administration and processing. Based in London, with offices in New
York and Mumbai, EDI supports hundreds of investment institutions worldwide.
About Advent
Advent Software, Inc. (www.advent.com), a global firm, has provided trusted
solutions to the world’s leading financial professionals since 1983. Firms in
60 countries use Advent technology and manage investments totaling nearly US
$18 trillion. Advent’s quality software, data, services and tools enable
financial professionals to improve service and communication to their clients,
allowing them to grow their business while controlling costs. Advent is the
only financial services software company to be awarded the Service Capability
and Performance certification for being a world-class support organization. For
more information on Advent products, click
here.
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