Fidelity Prime Services, a business of Fidelity Capital Markets Services, and Advent Software, Inc., a provider of software and services for the investment management industry, announce that Fidelity has implemented Geneva 7.0 into its prime brokerage trading platform for institutional money managers, including hedge funds. Geneva 7.0 is Advents most recent version of its sophisticated global portfolio management and fund accounting solution.
Through Geneva 7.0, Fidelity Prime Services is able to provide its institutional clients with access to real-time portfolio data and enhanced reporting capabilities. In addition, the platform allows clients to integrate with other applications, both internal and external, and facilitate sharing of data among prime brokers, clients, and other service providers. Fidelity Prime Services is the first prime broker to be fully operational on Geneva 7.0.
“Fidelity Prime Services has experienced significant growth since its inception five years ago,” says Jim Coughlin, senior vice president, Fidelity Prime Services. “At the same time, our prime brokerage clients have increasingly requested customized, real-time portfolio accounting and reporting capabilities. By incorporating a scalable technology platform, such as Geneva, into our existing suite of securities lending, cash management and execution solutions, we are able to provide clients with the comprehensive, actionable information needed to help them efficiently manage their sophisticated trading strategies.”
“We are thrilled to announce that Fidelity Prime Services has selected Geneva,” says Chris Momsen, senior vice president and co-head of Global Accounts for Advent. “We are committed to providing our customers with best-of-breed solutions to meet their growing business needs, and we look forward to working closely with Fidelity to provide them with a platform that will help them build, develop and deliver new products to their clients. Our success is rooted in the success of our customers, and were proud to add Fidelity to our growing roster of industry-leading clients.”
D.C.