Advent Software is preparing to roll out the latest version of its order management system Moxy, promising a more user-friendly interface and a greater ability to customize features for individual traders.
Dubbed Moxy 8.0, the latest version is already in use by certain clients and will be released for general availability on April 30. With around 850 clients around the world, Moxy is one of the most widely used OMSs in the industry.
Robert O’Boyle, vice president of solutions marketing and business development for Advent, said the company has significantly enhanced Moxy so both portfolio managers and traders can have a more intuitive experience and be able to think about trading, not about how to use a system.
“We have adopted a very user-centric approach,” O’Boyle said. “We’ve opened up a lot more information which a trader can get access to. We’ve enriched the information a trader can leverage, and allowed users to integrate third-party information much more intuitively.”
Among other changes, Advent has redesigned Moxy’s order views, according to Steve Pulido, who does product management for Advent. The new interface is supposed to give easier access to trading algorithms and to more tightly integrate dark pools.
“We’re removing clicks for the trader, so they’re getting quicker access to their algos,” Pulido said. “Their time to market is faster than it had been in the past.”
In addition, Moxy 8.0 is supposed to bring order status information to the forefront, so a trader can easily see if a trade has been completed or if it is still in progress. The new version has a cash management view, so traders can get a better picture of how their cash stands throughout the day. They also have the ability to manage multiple cash accounts across different regions.
Advent redesigned Moxy’s portfolio modeling ability as part of the upgrade, too, something Pulido said is geared toward portfolio managers, but that traders will certainly use as well.
Moxy’s release at the end of the month will be synchronized with upgrades in other Advent offerings, including the company’s new compliance program, Rules 2.0.
O’Boyle said that compliance is a key component of successful trading and called Rules 2.0 “a very competitive offering.” More than $1 trillion of investible assets are currently monitored by Advent’s rules engine.
