London, UK and New York, NY (PRWEB) July 14, 2008
Netik LLC, the industry's leading financial data management company today announced an alliance with Advent Software, Inc., (NASDAQ: ADVS), a leading provider of software and solutions for the global investment management industry, to integrate Geneva®, Advent's award-winning portfolio management and fund accounting solution, and Netik Global Securities Master, Netik GSMTM, a fully managed data service solution and utility for reference and market data. Netik GSM provides a single source of reference and market data for Geneva® and leverages the Advent - Netik connectivity.
Netik and Advent have invested in an adapter, available 'off-the-shelf', to combine the two products. The new Geneva® / Netik GSM Adapter solution will be licensed to users through Netik and will be maintained by both companies.
Geneva® / Netik GSM Adapter significantly enhances the delivery of reference and market data for downstream distribution and full integration with consuming applications. The combined solution provides hedge funds, prime brokers and fund administrators with a best-of-breed solution for reference and market data.
Todd Gottula, Senior Vice President and Co-Head of Global Accounts for Advent, said "Geneva® has delivered world class accounting and transaction processing to the market for more than a decade. Now, with a fully managed service solution for reference and market data provided by Netik GSM, new prospects and existing customers have access to a single source of the highest quality reference and market data."
John Wise, Chief Executive Officer of Netik, stated: "Many of the leading fund administrators and prime brokers already use Advent and Netik. Today, through this alliance with Advent, we are making Netik GSM readily available to the hedge fund market. Getting reference and market data correct is key to any Geneva® implementation and indeed any solution for hedge funds, and with over two decades of proven experience, Netik GSM is ideally positioned to deliver this. Hedge funds can quickly and easily select their universe from the Netik GSM utility, enabling Netik GSM to be implemented within days.
Wise continues: "Our combined offering provides customers with a truly end-to-end solution for reference and market data."
Netik is a global leading provider of financial data management services and products to the Securities industry. Netik's data management products, include Netik Global Securities Master, Netik GSM™, a reference data managed service, Netik InterView™ a data warehouse for the storage of holistic financial data and Netik Information Portal™ to visualize data sit at the heart of Investment Operations at many of the world's leading Asset Managers, Hedge Funds, Wealth Managers, Private Bankers, Prime Brokers, Fund Administrators, Custodians, Investment Operational Outsourcing providers and Investment Banks.
The Netik team has spent the past 25 years perfecting the art of bringing together market, reference, portfolio accounting, performance and risk data from disparate sources into a single version of the truth (SVOTT™). The result is a highly scalable and sophisticated securities business data model that has been designed to process all securities and offers a complete model for traditional and alternative markets, and is used by small financial institutions as well as by nine of the top 10 investment banks in the world.
Netik, as a leading provider of data warehouse solutions, is able to achieve rapid implementations through its 'plug-and-play' capabilities with off-the-shelf solutions for Netik Asset Manager™, Netik Prime Broker™ and Netik Fund Administrator™ that are all centered around the uniquely powerful business model of Netik InterView.
For more information please visit http://www.netik.com.
Advent Software, Inc. (http://www.advent.com), a global company, 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 visit http://www.advent.com/about/resources/demos/pr.
Advent and Geneva are registered trademarks of Advent Software, Inc. All other company names or marks mentioned herein are those of their respective owners.
jenm @ massingpr.com