SunGard has released Apex Prime to help prime services providers with day-to-day processing and client services.
Apex Prime is a new platform that presents prime services providers with a single view of hedge fund client activity by combining data held in fragmented systems and spreadsheets.
The platform enables firms to manage trade exceptions, view security and cash positions, support flexible margining rules, calculate financing costs and generate consolidated billing and automated client reporting, says Craig Costigan, executive vice president and general manager of SunGard's capital markets business.
"The hedge fund industry's increased use of multiple prime brokers has created business opportunities for new market participants including prime custodians and those with boutique prime services offerings," says Costigan. "SunGard's 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."
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