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FOR IMMEDIATE RELEASE AFA’s IMPACT Pro to offer CSFB's AES Algorithms ( New York: July 21, 2005) - Advanced Financial Applications (AFA), a leading provider of trading technologies to buy and sell side financial organizations, today announced that it has entered into an agreement with Credit Suisse First Boston’s (CSFB) Advanced Execution Services (AES®) to offer AES’s algorithms through its IMPACT Pro™ platform. CSFB offers a comprehensive set of tools that assist buy-side and sell-side traders in an effort to improve their performance and consistency by helping them adapt to today’s rapidly changing market environment. Using IMPACT Pro, CSFB’s clients will have electronic access to the firm’s entire suite of Advanced Execution Services (AES® ) algorithms, its Pathfinder DMA service, as well as its equity cash trading desk. In deploying the AES® suite of algorithms through IMPACT Pro, CSFB is able to offer clients a web-delivered, fully hosted application. The application provides CSFB clients with AFA’s fully automated Integrated Order Processing (IOP™) capability - from multi-broker trade execution to seamless trade allocations and connectivity to multiple prime brokers in a single platform. Among the firms already using the AFA platform through CSFB are Redwood Grove Capital Management and Crossfields Capital Management. “We are pleased to work with AFA to offer enhanced services to our clients through the use of the IMPACT Pro™ platform. Our commitment to provide our clients with the most advanced trading tools available is reflected in our agreement with AFA,” said Manny Santayana, Managing Director in the AES group at CSFB. AFA's Chairman & CEO, Ameet Shah commented: “Our application will benefit CSFB in multiple ways. In addition to allowing CSFB’s clients to connect to various CSFB execution venues, IMPACT Pro enables CSFB to offer a solution that allows prospective hedge fund clients to manage their trades efficiently.” Said Bradley Richmond, a trader at Redwood Grove Capital Management: “IMPACT Pro's ability to connect to multiple executing brokers and then report trade files to multiple prime brokers at the end of the day through one easy to use platform has greatly increased my productivity and probably saves me 45 minutes a day in back office work. The amount of time and effort saved by using IMPACT Pro will certainly add to the fund's performance." Gregory Melconian, Managing Director of Crossfields Capital Management said “AFA’s Impact Pro platform has allowed our portfolio managers to easily deliver orders electronically to destinations such as CSFB while streamlining our internal operations.”
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Mary Claire Delaney |