Advent Software, Inc, a provider of software and services for the global investment management industry, announced that Knightsbridge Asset Management LLC is enjoying faster time to market and greater productivity with Moxy, Advents trade order management solution (OMS). With more than 850 clients, Moxy is the most widely used OMS in the industry.
Knightsbridge is an asset management firm with more than $950 million in assets under management as of September 30, 2009. Prior to implementing Moxy, the firm was using a manually intensive spreadsheet-based process to rebalance portfolios, prepare trades and check restrictions. Knightsbridge needed a faster, more accurate and automated process for generating trades to execute its investment strategy, and turned to Moxy for its proven reputation in the industry.
Moxy serves as the hub of our trading operation and has dramatically improved our trading time to market in the areas of trade order preparation and rules checking; as a result, we can get trades out in a quarter of the time it used to take, says Chad Neault, Analyst, Knightsbridge Asset Management. On a highly liquid stock, it used to take us up to one business day to prepare an order across all of our accounts to make sure we were not violating restrictions and we were getting everyones cash levels right. Now with Moxy, we feel comfortable doing that within a couple of hours.
D.C.