Apex Clearing Corporation Selects Reich & Tang as Cash Management Provider Business Wire NEW YORK -- September 4, 2013 Reich & Tang Asset Management, LLC (“Reich & Tang”) today announced that it has been selected by Apex Clearing Corporation (“Apex”) to be the primary cash investment provider for their platform. Reich & Tang’s money market mutual funds, the Reich & Tang Insured Deposits program, and other cash management services are now available to clients of all correspondent broker-dealers that clear through Apex. “We are very excited to have entered into this partnership with Apex,” said Michael Lydon, Reich & Tang’s Chief Executive Officer. “With investors focusing on safety for their cash investments and the impending money market fund reforms, we are pleased to provide Apex, its correspondents, and their end customers the choice of retail-focused money funds or the safety and convenience of $2.5 million in FDIC insurance through the Reich & Tang Insured Deposits program.” “We are pleased to announce our partnership with Reich & Tang as part of our continued development of our cash management solutions,” said Todd Schroeder, Apex Clearing’s Chief Product Officer. “Through partnerships like Reich & Tang’s, Apex continues to innovate its business to deliver efficient, scalable, and impactful solutions for our correspondents.” Reich & Tang, an affiliate of Natixis Global Asset Management, supervises more than $33 billion in money market mutual funds, separately managed accounts, and expanded FDIC insured programs offered through banks, clearing firms, and broker-dealers. The announcement of the Apex partnership comes on the heels of Reich & Tang’s multi-billion dollar HighMark money market funds merger that closed in July. “Being a liquidity and cash management specialist in today’s market environment is proving to be a distinct advantage for our firm,” added Lydon. “We can now share this expertise with Apex and the companies and individuals that it serves so well.” About Reich & Tang Reich & Tang Asset Management, LLC, is one of the nation’s largest firms dedicated solely to liquidity and cash management solutions. The firm is focused on creating, improving, and delivering smarter ideas to help banks, broker-dealers, and direct investors maximize the value of their deposit, money fund, and short-term investment programs. This singular focus across several business channels combines to form a unique perspective and expertise that provides a deeper insight into the multiple disciplines within cash management. Reich & Tang is a subsidiary of Natixis Global Asset Management, S.A., which has $783 billion in assets under management as June 30, 2013. About Apex Clearing Corporation Headquartered in Dallas, Apex Clearing Corporation is a leading, independent provider of clearing and execution services to the financial services industry. Systematically innovating in technology and risk management solutions, Apex enables broker-dealers the ability to efficiently run and grow their businesses. In addition to clearing and execution solutions, Apex also offers sophisticated margin and option capabilities, cash management services, retirement plans, mutual funds, margin lending and other key back office services. Apex Clearing Corporation is registered with the SEC, a member of FINRA, and a participant in SIPC. Contact: Reich & Tang Frank Bonanno, 212-830-5318 email@example.com
Apex Clearing Corporation Selects Reich & Tang as Cash Management Provider
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