Advent adds custodial capabilities to support EMEA growth
Advent Software, which provides software and services to the asset management industry, says it has improved its connectivity with European custodians to add capabilities to its more than 450 global custodian interfaces.
It has also further automated the delivery of custodial and market data to its Advent Portfolio Exchange portfolio management system.
Håkan Valberg, senior vice president and general manager, Advent Software EMEA said: “By providing standardized connectivity specific to the EMEA market, we are making it easier for investment managers to manage their data and investments, reducing operational risk. In addition, local custodians are able to provide client services at their highest level, with improved speed, consistency and efficiency. We have aggressively added custodial connections throughout the region and improved connectivity in EMEA.”
The announcement comes shortly after the firm officially opened its new London office to support the rapidly growing EMEA business. The company said it had doubled its consulting capacity in the region over the past year. Business drivers include increasing levels of regulation in the European financial services sector and growing demand in the Middle East for solutions to simultaneously handle Sharia and non-Sharia-compliant services and products. Advent estimates that there are about 100 regulations set to hit the European market, while regulations elsewhere, such as FACTA, are increasing the need for flexibility in solutions for the asset management industry.