Access Data Corp., the leading provider of enterprise reporting and data management services for the financial services industry, today announced that Rydex Investments (âRydexâ) has selected Access Data ExchangeSM (âAccessDXSMâ) to aggregate and process detailed shareholder data from financial intermediaries that distribute Rydex Funds. AccessDX is Access Dataâs proprietary shareholder transaction data exchange network that relieves mutual fund companies from developing custom data feeds for each trading partner by providing normalized data from all financial intermediary platforms through one secure conduit.
As part of the AccessDX service solution, Rydex has also contracted with Access Data to provide Data Management Services to provide clean, controlled and concise shareholder and rep data from financial intermediary platforms. Access Dataâs Data Management Services includes 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.
The majority of Access Dataâs SalesVision clients use AccessDX for financial intermediary data aggregation, as well as its Data Management Services. Access Data has rapidly established a leadership position in the area of enterprise reporting and data management because of its on-demand service features, unique data management capabilities, and enterprise shareholder reporting offering.
âAccess Dataâs unique combination of technology and services gave us confidence that we could outsource this difficult process of aggregating and cleaning shareholder data from financial intermediaries. We liked the fact that Access Data was an industry leader in this area and had developed a strong track record of providing data services to their SalesVision clients,â said Wayne Cobb, COO of Rydex Funds. âThe relationship with Access Data enables us to focus our efforts on sales and service, rather than data management,â added Mr. Cobb.
âIt is gratifying that Rydex, which has a very sophisticated investment offering, selected Access Data for data aggregation and other data services,â said Dan Cwenar, President and COO of Access Data. âThe rapid acceptance and growth of our data services business is validation that leading financial services firms require a combination of technology and data services to solve the omnibus account problem.
Access Data is the only firm in the industry today offering this unique combination of technology and services,â added Mr. Cwenar.
Utilizing Access Dataâs proven process for rapid data interface development, combined with proprietary data workflow technology, AccessDX connects a broad network of intermediary sub-account platforms to its Access Data SalesVisionÂ® suite of applications. SalesVision is Access Dataâs enterprise shareholder solution used by mutual fund companies, representing more than $1.5 trillion in assets under management, to analyze, track and report integrated shareholder data to Fund Boards, corporate management, and business users across the organization.