PRINCETON, N.J. - NationsBanc Services has licensed the investment management and accounting system PAM for Securities to manage NationsBank's $28 billion investment portfolio.
NationsBanc Services is a subsidiary of NationsBank, Charlotte, N.C.
"PAM's core functionality meets the basic investment accounting needs of the bank. But it was the additional functionality that really sold us on the system," said John Baxter, senior vice president for corporate investment support at NationsBanc Services.
Princeton Financial Systems Inc., Princeton, N.J., is the maker of PAM for Securities.
Princeton Financial also has released a custodian trade notification product that works in conjunction with PAM. The trade notification product, which has no specific name, uses the trade communication delivery standard format established by the Industry Standardization for Institutional Trade Communication Association.
PAM clients now can electronically transmit trade advice, complete with settlement information, directly to their custodian banks in the industry-standard format developed by the ISITC. A trade advice is a communication from an investment manager advising a custodian of a trade in order for the custodian to settle it.
For more information, contact Gordon Gacek at Princeton Financial Services, (609) 987-2400.
Smart Edgar launched
FORT LAUDERDALE, Fla. - Smart Edgar, an Internet-based product to provide investors with real-time access to pre-formatted Securities and Exchange Commission documents, has been launched.
"Any portfolio manager who has fast access to real-time SEC information is going to have a real advantage come May 6 when all U.S. public companies will be required by the SEC to file electronically," said Clifford Boro, president of Internet Financial Network Inc., Fort Lauderdale, which owns Smart Edgar.
Smart Edgar will allow clients to customize each document. If a client requires only the balance sheet and merger and acquisition sections of a 10k report, the client can choose only those selections with Smart Edgar's proprietary selection features.
Smart Edgar also gives clients the ability to instantly download SEC information, fully formatted, into Microsoft Excel spreadsheets. That download feature offers important advantages to securities analysts and portfolios managers who use Excel for securities valuation modeling, said Mr. Boro.
Smart Edgar is available on a subscription basis through OneSource Information Services. For further information, contact Mr. Boro at (305) 321-6061.
Needham data on FIRST CALL
NEW YORK - Needham & Co. Inc., New York, has agreed to electronically distribute its morning meeting notes and intraday research broadcasts to its clients exclusively over Boston-based FIRST CALL's electronic network. This is the first time Needham & Co.'s information has been available online and in real time, according to Peter Dale, managing director of sales at Needham.
ProTrak offering Nelson's data
NEW YORK - ProTrak for Windows, investment relationship management software, has added Nelson's Plan Sponsor Database to its list of data sources. A special interface allows access to nearly 13,000 plan sponsors tracked by Nelson's.
Nelson's data is stored directly in ProTrak and can be used with any aspect of the ProTrak system, including mass mailings, custom reports and queries.
For further information, contact Barry Graubart at Nelson Publications Inc., Port Chester, N.Y, at (914) 937-8400.
Jackson National taps FILMS
LANSING, Mich. - Jackson National Life Insurance Co., Lansing, selected Securities Software & Consulting, Inc.'s FILMS software to manage its loan portfolio.
The insurance company has more than $24 billion in assets.
Separately, SS&C, Bloomfield, Conn., and Bloomberg, L.P., New York, announced a new service that offers investment professionals a seamless platform for trading and information exchange. The new service SS&C Go Trading allows clients to use Bloomberg trading, securities and portfolio analysis with SSC's CAMRA, an asset management, reporting and accounting system.
For further information, contact Peg Berry at SS&C at (860) 769-4020.
ComStock @ AOL.com
HARRISON, N.Y. - America Online Inc. has signed an agreement with Standard & Poor's Corp.'s ComStock to distribute ComStock's financial data and news on America Online. ConStock is financial data and news provider.
Security APL merger
JERSEY CITY, N.J. - Security APL Inc., the Jersey City maker of portfolio accounting and performance measurement software and services, is expected to merge with CheckFREE Corp. in a deal valued at $50 million.
Security APL provides customized portfolio management software services to more than 180 institutional money managers, brokers, financial planners and banks. CheckFREE provides services for electronic commerce, including electronic payments and collections.
GAT expands Precision
NEW YORK - Global Advanced Technology has added analytics for fixed-rate pass-throughs in specific pools to its Precision software. GAT is expected to come out with a faster, 32-bit version of Precision later this year that will replace the current 16-bit version.
For more information, contact Rhoda Woo at GAT at (212) 785-9630.
ADP acquires Merrin
NEW YORK - Automatic Data Processing acquired Merrin Financial Inc., a vendor of institutional order management and electronic systems for the securities industry.
Merrin Financial claims more than 25% of the institutional money management firms with more than $1.25 billion in assets use Merrin systems.
"Merrin products significantly augment our buy-side offering and leverage ADP's strengths in connectivity solutions by providing sell-side clients with an effective electronic means to capture customer order flow," said Bob Casale, president of ADP Brokerage Information Services Group, Jersey City, N.J.
For more information, contact Mr. Casale at (201) 714-3000.