Germany's MainFirst Asset Management Zeroes in on Growth
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Overview: MainFirst Asset Management’s operating platform previously comprised a combination of legacy vendor software and Microsoft Excel spreadsheets. Instead, the firm wanted an integrated front to back-office technology solution to better support its institutional investors. So it turned to Advent’s Moxy? order management system and Advent Portfolio Exchange? (APX). According to Mr. Kogler, a major benefit of implementing Advent’s software “is the comfort that comes from having a complete and automatic audit trail of all the transactions.” Another stems from Moxy’s pre-trade compliance capabilities. “Moxy’s ability to customize trade restrictions in line with each client’s requirements, and ensure we avoid unintentional short selling and negative cash balances are important capabilities for institutional investors,” says Mr. Kogler. APX then provides clients with the post-trade compliance functionality they require, he adds. APX is tackling MainFirst Asset Management’s reconciliations headaches as well. Previously the firm relied on Excel spreadsheets, “We are a pure asset manager, and we needed a system from an international vendor with the tools to support that business. Advent’s software fitted those requirements the best.” Bj?rn Kogler, Head of Operations, Asset Management, MainFirst Bank which meant the process was highly manual and error prone. “But by using APX, position and cash reconciliations with our custodian banks have become automated, ensuring the process is much more accurate and efficient,” notes Mr. Kogler.