SS&C ALPS Distributors has been chosen by Direxion to provide medallion distribution services to their ETF and mutual fund range.
In this new arrangement, SS&C will act as the underwriter for issuance and distribution, as well as handle FINRA compliance and education requirements.
By partnering with SS&C, Direxion will also gain access to the firm’s Registered Fund Services for mutual funds, interval funds and ETFs. This is said to support and enhance Direxion’s fund distribution model and strategy.
Angela Brickl, president of Direxion, comments: “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."
Head of SS&C Registered Fund Services, Neal Chansky, adds: “We look forward to a strong partnership with Direxion to support their growth as they deliver new and innovative solutions to the marketplace."
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