WASHINGTON, DC--(Marketwire - October 22, 2009) - The MMI MASS Committee, the group charged with developing standard messaging for the managed investment solution and wealth management industry, today announced significant progress toward meeting the goal of developing message standards to support the trading and settlement process using FIX messages by the MASS Trading Subcommittee. Vestmark, a leading technology provider for managed accounts solutions, has provided the subcommittee with proprietary documentation that will greatly accelerate the process of defining a protocol for managed solutions trading.

"The MASS Trading Standards Subcommittee has been working to define FIX messages to support trading which is one of the most critical processes for our industry. Vestmark's release of their Rules of Engagement document for FIX-based trading has greatly accelerated the trading standards effort," said Steven Camp of JP Morgan and co-chair of the MASS Trading Standards Subcommittee. "The committee has adopted Vestmark's baseline and reference implementation for the Trading Standards and this submission will reduce the effort needed to reach an MMI Trading Standard by many months."

Heeren Pathak, Chief Technology Officer of Vestmark and Co-Chair of the MASS Committee, said, "Vestmark's current use of FIX messages is evidence that the managed accounts industry can benefit dramatically from the definition and adoption of trading standards. Our experience in facilitating communication between investment managers and sponsors has resulted in a series of best practices to support the entire trade process, and we are pleased to share this knowledge for the betterment of the industry."

"It is actions like this that prove the real value of being a member of the MMI Community. Vestmark has been a leader and innovator in our industry and we are appreciative of their continued support of the MMI MASS standards effort," said Christopher Davis, President of MMI.

About the Money Management Institute

Since 1997 MMI has been the leading voice for the global financial services organizations that provide advice and professionally managed solutions to individual and institutional investors. Through industry advocacy, educational initiatives, regulatory affairs, data reporting and professional networking, MMI supports and advances the growth of managed investments. Our members' advice-driven investment solutions are responsive to an evolving worldwide financial landscape and their organizations are committed to the highest standards of fiduciary responsibility and ethical conduct. For more information, visit www.mminst.org.

About Vestmark

Vestmark is a full service investment technology provider for investment managers, overlay managers, sponsors, RIAs and bank trusts in the managed accounts industry. Vestmark's solutions enable greater product innovation, increased operational efficiency, and improved regulatory compliance for its customers. The Vestmark Platform is a modern, web-based platform providing complete functionality and connectivity to support the innovation in managed account solutions and the growth of the managed accounts industry. Vestmark is headquartered in Wakefield, Massachusetts with offices in Oakland, California; Cambridge, Massachusetts; and Jersey City, New Jersey. For more information about Vestmark's solutions, please call 781-224-3640, email inquiry@vestmark.com, or visit www.vestmark.com.

Contact Information: Contact: Hilary Fiorella 908-655-7760