Rydex Investments has selected Access Data Exchange (AccessDX) from Access Data to aggregate and process shareholder data from financial intermediaries that distribute Rydex Funds.
Rydex Investments is a financial services company, based in Rockville MD, offering 35 investment products, including sector, benchmark and dynamic funds for a variety of market conditions. Rydex manages $15 billion in assets.
AccessDX is Access Data’s proprietary shareholder transaction data exchange network designed to save mutual fund companies the effort of developing custom data feeds for each trading partner, by providing normalized data from all financial intermediary platforms through one secure conduit. It collects sales and client information from financial intermediaries, which enables mutual fund companies to track detailed sales activity for compliance and corporate reporting requirements.
As part of the AccessDX service solution, Rydex has also contracted with Access Data for data management services to provide clean, controlled and concise shareholder and representative data from financial intermediary platforms. Access Data’s Data Management Services include the researching of unknown rep names for trades in Rydex Funds, as well as ensuring that trades from financial intermediary platforms are associated with the correct dealer, branch and rep in order to provide accurate internal sales and corporate reporting.
“Our value-add for this service is the data management team which collects the shareholder information, cleans it, arranging it in a standardised format, completes it, ensuring that all the relevant details are present, and then distributes it,” says Frank Polefrone, senior vice president for Access Data Corp.
Utilizing Access Data’s process for data interface development, combined with proprietary data workflow technology, AccessDX connects a network of intermediary sub-account platforms to its Access Data SalesVision suite of applications. SalesVision is Access Data’s enterprise shareholder solution used by mutual fund companies to analyze, track and report integrated shareholder data to fund boards, corporate management and business users.
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