Wrap music: SunGard, Advent Software team up with new solution
First Published 9th July 2012
SunGard and Advent Software launched an integrated solution designed to make the lives of "wrap managers" easier.
New York/San Francisco - SunGard and Advent Software said they have introduced an integrated trading solution to help wrap managers conduct business with sponsors directly via the SunGard Global Network and Advent's Moxy order management system.
Wrap managers oversee an investor's portfolio for a flat fee that covers administrative, commission and management expenses. These businesses, also known as SMA programmes, can be a way for asset managers to increase assets and capital. However, managers must manually extract data from an OMS and upload the information to a wrap sponsor platform in order to execute trades, creating operational inefficiencies.
SunGard and Advent's solution provides centralised trading and connectivity tools and automates the flow of data from multiple sponsors into and out of Moxy OMS. It also includes an allocation and post-trade system that uses the industry standard FIX protocol to deliver allocation messages in whatever format required by the wrap sponsor.
The companies said the combined solution helps customers increase their pace of adoption of SMA programs and reduce the effort necessary to maintain the programs.
"Wrap/SMA managers today face increased operational challenges managing multiple sponsors and workflows," said Aaron Adolphson, product manager for order management solutions at Advent Software. He said the new solution simplified the management of these types of accounts and allowed managers to more fully leverage growth potential.
"The growth of separately managed account programs is fueling the demand for integrated tools that provide efficiency as account volume increases," said Ralston Roberts, senior managing director for the SunGard Global Network business unit.