SunGard has expanded its prime services offering with the launch of Apex Prime, a global solution that helps prime services providers manage their day-to-day client processing.
Apex Prime is a new technology platform that offers prime services providers a single view of all hedge fund client activity, combining data held in numerous fragmented systems and spreadsheets. Apex Prime helps these firms to efficiently manage trade exceptions, view security and cash positions in real time, support flexible margining rules, calculate financing costs and generate consolidated billing and automated client reporting.
Craig Costigan, executive vice president in SunGards capital markets business, said, The hedge fund industrys increased use of multiple prime brokers has created business opportunities for new market participants including prime custodians and those with boutique prime services offerings. SunGards Apex Prime can help new and established prime services providers deliver the global, real-time, cross-product service their clients demand with a low total cost of ownership and short time to market.
(JDC)