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Private Capital Management Streamlines Operations with Advent’s Trading and Compliance Suite

Moxy is Advent’s industry-leading trade order management solution (OMS) and the most widely used OMS in the industry. Moxy has more than 850 clients worldwide and more than half its client base manages assets in excess of $1 billion. Advent Rules Manager is its compliance solution for pre- and post-trade rule-checking, portfolio monitoring and automated record-keeping.

Based in Naples, Florida, PCM manages US equity portfolios for a mix of high net worth and institutional clients. A wholly owned subsidiary of Legg Mason, PCM has approximately 30 employees and some $3 billion in assets under management as of December 31, 2008.

PCM was seeking to improve the performance of its trade order management system. Generating orders and getting them to the trading desk with its existing standalone OMS compliance product took longer than the firm wanted and required offline processes. Moreover, the system had difficulty importing and exporting data to and from other applications.

After a thorough review of the alternatives on the market, PCM converted from its existing trading system to Advent’s trading and compliance suite. The firm was already using other Advent products, including Axys®, its turnkey portfolio accounting solution, so Moxy and Advent Rules Manager integrated seamlessly into the operation. Along with the performance and integration issues cited with its previous trading system, PCM saw the logic of having a single provider for its core investment technology platform.

Pedro Rolon, information technology director of Private Capital Management, said: Our goal was to find a new system where those processes that previously took place outside of the order management system could take place directly within the system with the least amount of user intervention, and we achieved that objective with Moxy.

With Advent Rules Manger, we now have the automated compliance support that we needed and much more, including pre- and post-trade rules-checking and portfolio monitoring. With an integrated trading and compliance solution from Advent, we no longer have difficulty importing and exporting data to and from other applications.

The priority for PCM was to find a platform that would integrate seamlessly with our other in-house systems, and we have achieved that with Advent’s trading and compliance suite. We view Moxy and Advent Rules Manager as one solution, one system.

Govind Sandhu, director of product management at Advent PCM, said: PCM is another example of a growing list of clients that are tapping Advent to give them a strong competitive advantage and meet all of their trading and compliance needs. We are very pleased to support PCM’s business by providing them with a comprehensive solution that delivers speed and scalability to their operations.

Its ability to make clients more efficient by streamlining and automating operations make Advent’s trading and compliance suite the solution of choice over the competition.