STOCK TITAN

Direxion Selects SS&C for ETF, Mutual Fund Distribution Services

Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
Tags

SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) has announced that Direxion, a leading provider of tradeable and thematic ETFs, has chosen SS&C ALPS Distributors for medallion distribution services for their ETF and mutual fund range. Direxion, managing over $40 billion in assets, will benefit from SS&C's comprehensive suite of Registered Fund Services. SS&C will act as the underwriter and distributor, handle FINRA compliance, review marketing materials, and support Direxion's distribution strategy.

This partnership allows Direxion to access SS&C's end-to-end service and distribution solutions, designed to enhance customer experience and streamline order flow with authorized participants. SS&C ALPS Distributors currently services more than 300 ETFs with over $1 trillion in assets under distribution across 47 trusts.

SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) ha annunciato che Direxion, un importante fornitore di ETF negoziabili e tematici, ha scelto SS&C ALPS Distributors per i servizi di distribuzione di medaglie per la loro gamma di ETF e fondi comuni. Direxion, che gestisce oltre 40 miliardi di dollari in attivi, beneficerà dell'ampia gamma di Servizi per Fondi Registrati di SS&C. SS&C fungerà da sottoscrittore e distributore, si occuperà della conformità con la FINRA, esaminerà i materiali di marketing e supporterà la strategia di distribuzione di Direxion.

Questa partnership consente a Direxion di accedere ai servizi integrati e alle soluzioni di distribuzione di SS&C, progettate per migliorare l'esperienza del cliente e semplificare il flusso degli ordini con i partecipanti autorizzati. SS&C ALPS Distributors attualmente gestisce più di 300 ETF con oltre 1 trilione di dollari in attivi distribuiti attraverso 47 fiduciari.

SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) ha anunciado que Direxion, un proveedor líder de ETFs negociables y temáticos, ha elegido a SS&C ALPS Distributors para los servicios de distribución de medallas para su gama de ETFs y fondos mutuos. Direxion, que gestiona más de 40 mil millones de dólares en activos, se beneficiará de la completa suite de Servicios de Fondos Registrados de SS&C. SS&C actuará como suscriptor y distribuidor, se encargará del cumplimiento con FINRA, revisará los materiales de marketing y apoyará la estrategia de distribución de Direxion.

Esta asociación permite a Direxion acceder a los servicios integrales y soluciones de distribución de SS&C, diseñadas para mejorar la experiencia del cliente y agilizar el flujo de órdenes con participantes autorizados. SS&C ALPS Distributors actualmente presta servicio a más de 300 ETFs con más de 1 billón de dólares en activos bajo distribución a través de 47 fideicomisos.

SS&C 테크놀로지 홀딩스 주식회사(Nasdaq: SSNC)는 거래 가능하고 테마 ETF의 주요 공급업체인 Direxion이 ETF 및 뮤추얼 펀드 범위의 메달리온 배급 서비스에 대해 SS&C ALPS Distributors를 선택했다고 발표했습니다. Direxion은 400억 달러 이상의 자산을 관리하며, SS&C의 포괄적인 등록 펀드 서비스의 이점을 누릴 것입니다. SS&C는 인수자 및 배급업체로 활동하며, FINRA 준수를 처리하고 마케팅 자료를 검토하며 Direxion의 배급 전략을 지원할 것입니다.

이번 파트너십을 통해 Direxion은 고객 경험을 향상하고 승인된 참가자와의 주문 흐름을 간소화하도록 설계된 SS&C의 종합 서비스 및 배급 솔루션에 접근할 수 있습니다. 현재 SS&C ALPS Distributors는 47개의 신탁을 통해 1조 달러 이상의 자산으로 300개 이상의 ETF에 서비스를 제공합니다.

SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) a annoncé que Direxion, un fournisseur leader d'ETF négociables et thématiques, a choisi SS&C ALPS Distributors pour ses services de distribution de médailles pour sa gamme d'ETF et de fonds communs. Direxion, qui gère plus de 40 milliards de dollars d'actifs, bénéficiera de l'ensemble complet des Services de Fonds Enregistrés de SS&C. SS&C agira en tant que souscripteur et distributeur, gérera la conformité avec la FINRA, examinera les matériaux marketing et soutiendra la stratégie de distribution de Direxion.

Ce partenariat permet à Direxion d'accéder aux solutions de service et de distribution de bout en bout de SS&C, conçues pour améliorer l'expérience client et rationaliser le flux de commandes avec des participants autorisés. SS&C ALPS Distributors gère actuellement plus de 300 ETFs avec plus de 1 trillion de dollars d'actifs sous distribution à travers 47 fiducies.

SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) hat angekündigt, dass Direxion, ein führender Anbieter von handelbaren und thematischen ETFs, sich für die Medaillenvertriebsdienste von SS&C ALPS Distributors für ihre ETF- und Mutual Fund-Palette entschieden hat. Direxion, das über 40 Milliarden USD an Vermögenswerten verwaltet, wird von der umfassenden Suite der registrierten Fondsservices von SS&C profitieren. SS&C wird als Emittent und Distributor fungieren, die FINRA-Compliance behandeln, Marketingmaterialien überprüfen und die Vertriebsstrategie von Direxion unterstützen.

Diese Partnerschaft ermöglicht es Direxion, auf die End-to-End-Service- und Vertriebslösungen von SS&C zuzugreifen, die darauf ausgelegt sind, die Kundenerfahrung zu verbessern und den Bestellfluss mit autorisierten Teilnehmern zu optimieren. SS&C ALPS Distributors bedient derzeit über 300 ETFs mit über 1 Billion USD an verwalteten Vermögenswerten über 47 Treuhandfonds.

Positive
  • SS&C secures a new client, Direxion, with over $40 billion in assets under management
  • Expansion of SS&C's ETF and mutual fund distribution services
  • SS&C ALPS Distributors now services over 300 ETFs with more than $1 trillion in assets under distribution
Negative
  • None.

Insights

This partnership between Direxion and SS&C is a strategic move that could significantly impact both companies' market positions. For Direxion, with $40 billion in assets under management, this collaboration provides access to SS&C's extensive distribution network and compliance infrastructure. This could potentially lead to increased fund inflows and a wider investor base for Direxion's specialized ETF and mutual fund products.

For SS&C, adding Direxion to its client roster further solidifies its position in the ETF services market. With now over 300 ETFs and $1 trillion in assets under distribution, SS&C is strengthening its competitive edge in the financial services technology sector. This deal could potentially boost SS&C's revenue stream from its Registered Fund Services division, although the exact financial impact isn't disclosed.

Investors should monitor how this partnership affects Direxion's fund performance and SS&C's financial results in upcoming quarters to gauge its success and potential long-term value creation.

This partnership signifies a notable shift in the ETF landscape, particularly for leveraged and inverse products. Direxion, known for its niche in tradeable and thematic ETFs, is positioning itself for growth by leveraging SS&C's distribution prowess. This move could potentially increase the accessibility and popularity of Direxion's complex ETF offerings among sophisticated investors.

The collaboration also highlights the growing importance of robust distribution and compliance infrastructure in the ETF market. As regulatory scrutiny on complex ETFs intensifies, Direxion's choice of SS&C for its FINRA compliance and marketing review capabilities is strategic. This could enhance Direxion's ability to navigate regulatory challenges while expanding its product range.

For the broader ETF industry, this partnership underscores the trend of specialized ETF providers seeking partnerships with established service providers to scale operations and reach. It's a development that could spark similar alliances in the sector.

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.

Follow SS&C on X, LinkedIn and Facebook.

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/direxion-selects-ssc-for-etf-mutual-fund-distribution-services-302250088.html

SOURCE SS&C

FAQ

What services will SS&C provide to Direxion for their ETF and mutual fund range?

SS&C ALPS Distributors will provide medallion distribution services, act as underwriter and distributor for issuance, redemption and distribution, handle FINRA compliance and continuing education requirements, review marketing and sales literature, and support Direxion's distribution model and strategy.

How much assets does Direxion manage and what types of funds do they offer?

Direxion manages more than $40 billion in assets across a diverse suite of leveraged and inverse ETFs and mutual funds.

What is the current scale of SS&C ALPS Distributors' ETF services?

SS&C ALPS Distributors services more than 300 ETFs with over $1 trillion in assets under distribution across 47 trusts.

How will the partnership with SS&C benefit Direxion (SSNC)?

The partnership will provide Direxion access to SS&C's comprehensive suite of Registered Fund Services, end-to-end service and distribution solutions, and support for their growth in delivering innovative investment vehicles to sophisticated investors.

SS&C Technologies Inc

NASDAQ:SSNC

SSNC Rankings

SSNC Latest News

SSNC Stock Data

18.37B
245.42M
13.36%
84.51%
0.7%
Software - Application
Services-prepackaged Software
Link
United States of America
WINDSOR