WINDSOR,
Conn., Sept. 17, 2024 /PRNewswire/ -- SS&C
Technologies Holdings, Inc. (Nasdaq: SSNC) today
announced that Direxion, a leading provider of tradeable and
thematic ETFs, has selected SS&C ALPS Distributors to provide
medallion distribution services to their ETF and mutual fund range.
Direxion manages more than $40
billion in assets across a diverse suite of leveraged and
inverse ETFs and mutual funds.
SS&C ALPS Distributors will act as the underwriter and
distributor for issuance, redemption and distribution. SS&C
will also handle FINRA compliance and continuing education
requirements, review marketing and sales literature, and consult
and support Direxion funds' distribution model and strategy.
"We are delighted to partner with SS&C to expand the
distribution of our innovative funds," said Angela Brickl, President. "As the markets
continue to evolve, being able to deliver timely vehicles aligned
with the shifting dynamics of the financial markets is our
priority. SS&C's vast experience, high-touch service model and
unique end-to-end service and distribution solutions can provide
the support we need to reach a wide distribution network and grow
our business."
By partnering with SS&C ALPS Distributors, Direxion will
access a comprehensive suite of SS&C Registered Fund Services
for mutual funds, interval funds, ETFs/ETPs, Closed-End Funds and
Collective Investment Trusts (CITs). SS&C's end-to-end service
and distribution solution is designed to drive an enhanced customer
experience and efficient order flow with authorized participants.
The highly efficient marketing collateral review process leverages
best-of-breed technology facilitated by dedicated experts to
expedite reviews. Robust broker-deal compliance and legal
infrastructure will support Direxion's drive to provide leading
leveraged and inverse investment vehicles to sophisticated
investors.
"For over 30 years, our commitment to excellence in providing
medallion distribution services has empowered asset managers to
drive innovation and success in the dynamic ETF marketplace," said
Neal Chansky, Head of SS&C
Registered Fund Services. "We look forward to a strong partnership
with Direxion to support their growth as they deliver new and
innovative solutions to the marketplace."
SS&C ALPS Distributors now services more than 300 ETFs with
more than $1 trillion in assets under
distribution across 47 trusts. Services include FINRA registration,
marketing review, ETF operations and agreements.
About Direxion
Direxion equips investors who are driven by conviction with ETF
solutions built for purpose and fine-tuned for precision. These
solutions are available for a broad spectrum of investors, whether
executing short-term tactical trades, or investing in thematic
strategies. Direxion's reputation is founded on developing products
that precisely express market perspectives and allow investors to
manage their risk exposure. Founded in 1997, the company has
approximately $42.9 billion in assets
under management as of June 30, 2024.
For more information, please visit www.direxion.com.
About SS&C Technologies
SS&C is a global provider of services and software for the
financial services and healthcare industries. Founded in 1986,
SS&C is headquartered in Windsor,
Connecticut, and has offices around the world. Some 20,000
financial services and healthcare organizations, from the world's
largest companies to small and mid-market firms, rely on SS&C
for expertise, scale and technology.
Additional information about SS&C (Nasdaq: SSNC) is
available at www.ssctech.com.
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SOURCE SS&C