Phoenix Transfer will begin testing The Depository Trust & Clearing Corporation’s Alternative Investment Products platform.
Phoenix Transfer will feed the AIP platform with non-traded real estate investment trusts and limited partnerships data, giving registered representatives and financial advisers the ability to connect with manufacturers of these products so they can sell the investments to their high-net-worth clients.
DTCC’s AIP service links global market participants, including broker/dealers, fund managers, administrators and custodians to provide end-to-end processing of alternative investments such as hedge funds, funds of funds, private equity, non-traded Reits and limited partnerships.
By supporting the AIP platform, Phoenix Transfer is helping to centralise alternative investment data, bringing more order to the alternative investments marketplace.
"We are very pleased that Phoenix Transfer has joined DTCC and our other partners to support AIP," says Ann Bergin, managing director, DTCC Wealth Management Services. "Collaboration is key to bringing change to the alternative investments market. Together we can effectively deliver on our shared objective: to provide the alternative investment community with the operational efficiency and scalability it needs to facilitate greater product distribution and increase market growth."
Phil Owen, vice president of operations at Phoenix American, adds: "Phoenix has always encouraged and embraced improving the industry standards. This will open the doors for our clients to access tens of thousands of reps and advisers. Participation in DTCC’s AIP platform is consistent with Phoenix American’s commitment to provide its clients with maximum efficiency, reliability and flexibility."