SS&C Technologies Holdings, Inc. (Nasdaq:SSNC), a global provider of financial services software and software-enabled services, today announced an agreement with HedgeCoVest LLC to provide The SMArt Xchange ('SMArtX') exclusively to SS&C's client base of advisors using Axys® , APX, or Black Diamond®. This integration allows for seamless, sleeve-level reporting and portfolio accounting of all SMArtX accounts through advisor-focused SS&C technology solutions.
SMArtX grants SS&C Advent advisors exclusive access to a UMA/SMA offering that provides intra-day liquidity on more than 150 investment strategies. Advisors gain access to long only, long/short, and options strategies, which are allocated into a single brokerage account. The SMArtX service uses proprietary technology to maintain a real-time record of investment managers' activity and automatically creates trades to sync investors' portfolios with the investment managers' trading strategies. SS&C Advent provides data integration and sleeve-level reporting services for accounts managed on SMArtX so that advisory clients of Black Diamond and other solutions have a seamless experience.
The SMArtX offering through SS&C complements other technology solutions from the firm including APX and GWP, which provide portfolio accounting support to manufacturer and distributor firms.
"The agreement with HedgeCoVest is a natural extension of our existing suite of portfolio accounting, performance reporting, and custodial data functionality along with our vision of providing advisors with a complete wealth platform," said Dave Welling, Managing Director and Co-General Manager, SS&C Advent. "Our integration with SMArtX offers our clients access to investment management data within the tools they already use. Ultimately this improves the end-client experience while helping advisors achieve their business goals in a seamless and integrated workflow."
"We are excited about offering SMArtX exclusively for SS&C's clients," said Evan Rapoport, CEO, HedgeCoVest LLC. "SMArtX combines our unique trading technology and SS&C's industry-leading platforms, giving clients access to the next evolution of managed accounts, real-time performance reporting, and allocations on both traditional equity and alternative strategies."