Apex Clearing Corporation Selects Reich & Tang as Cash Management Provider

  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
fbonanno@rnt.com
 
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