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A-Team Insight Blogs

Advent Extends Alliance with Thomson Reuters to Advent Portfolio Exchange Clients

Following its announcement of the signing of an agreement with Advent last month, Thomson Reuters has extended the agreement to cover the buy side software vendor’s Advent Portfolio Exchange (APX) solution. Under the terms of the new agreement, the data vendor will link the portfolio management solution with its global pricing and security reference data service, DataScope Select.

In August, the vendors agreed to create an interface to link Advent’s Geneva solution with DataScope Select, which provides global pricing and security reference data including corporate actions for portfolio management, administration and valuation. They will now create another interface for APX clients’ access to the data solution.

“By linking Geneva and APX to DataScope, Advent clients will be able to seamlessly integrate pricing and reference data, which will help them to effectively manage their data requirements in a timely and flexible way,” explains Daniel Eriksson, director of solutions management for Advent Software EMEA.

Gerry Buggy, global head of hedge funds at Thomson Reuters, adds: “Thomson Reuters offers the broadest data coverage, including price, terms, conditions, corporate actions and counterparty data housed and maintained on a truly global basis. Our relationship with Advent is an endorsement of Thomson Reuters’ commitment to providing the investment management community with processing efficiencies and a consistent valuation process.”

The Advent deal represents an extension of the second public win for the DataScope Select service this year. In June, valuations vendor Pricing Partners opted for the service to provide it with market data to calculate independent valuations using its proprietary pricing model, Price-it.

Thomson Reuters has also had a fairly solid second quarter in terms of revenues, despite what it describes as “difficult economic conditions”. Its Enterprise division, in which DataScope Select sits, achieved robust revenue growth for the period in comparison to last year’s results. “Revenues rose 7% against very strong results from a year ago, when organic revenues grew 14%,” Thomson Reuters reported in its quarterly report earlier this month. It cited “strong customer demand for reference data, independently validated pricing services and data to automate front, middle and back office applications.”

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