Apex Group picks Bloomberg for corporate action data and FX portfolio reporting

Rick Steves

“Doing business in a complex global marketplace and complying with various local regulations require firms to have access to efficient systems and workflows.”

Apex Group has selected Bloomberg’s Data License solution to provide reference, pricing, and corporate actions data for equities and fixed income.

The implementation has been carried out by Apex Group’s Global Operations and Technology team based out of India.

Apex Group selected Bloomberg’s Data License and BFIX

Apex Group will be able to use Bloomberg’s data sets predominantly for its Fund Administration business, which manages fund and portfolio accounting for various global funds.

The firm has recently made several strategic acquisitions, and the firm-wide consolidation to using primarily Bloomberg’s data sets will ensure that the entire group will have access to the same data going forward, according to Apex.

Bloomberg’s data sets enable independent calculation of Net Asset Values (NAVs) of a Fund’s portfolio, which is a key regulatory requirement in most markets. They also simplify and support pre-trade compliance with local regulations, as well as portfolio and counterparty risk monitoring.

In addition, Apex Group has selected Bloomberg’s BFIX, the regulated benchmark covering a wide array of FX instruments that offers a comprehensive coverage of global currencies, for multi-currency portfolio reporting.

Bloomberg for streamlining and standardizing Apex’s post-trade corporate actions process

Bloomberg’s Enterprise Data business transforms the way customers extract value from data by providing comprehensive coverage and high data quality. Enterprise Data produces pricing, reference and regulatory data sets, real-time market, event and news data, liquidity analytics along with data management and distribution technologies.

Jeff Pamplin, Global Head of Operations and Group ExCo member at Apex, said: “We chose Bloomberg’s Enterprise Data solutions because they offer reliability, a global presence, and adaptability, allowing us to promptly address our clients’ evolving needs at every stage of their business journey. By adopting Bloomberg’s solutions, we ensure that our entire company can efficiently access reliable, strong, and high quality data. This collaboration demonstrates Apex’s dedication to continuously improve and optimize our operations, as well as deliver exceptional service.”

Rajiv Mirwani, Head of Enterprise Sales, South Asia, Bloomberg, commented: “We are pleased to work with Apex Group as their leading global provider of market data. Doing business in a complex global marketplace and complying with various local regulations require firms to have access to efficient systems and workflows. Adopting Bloomberg’s Enterprise Data solutions will significantly streamline and standardize Apex Group’s post-trade corporate actions process.”

Apex Group was founded in Bermuda in 2003 and has grown to operate in over 94 offices worldwide, with over 12,000 employees in 38 countries.

The firm provides asset managers, financial institutions, private clients, and family offices with fund services, digital onboarding and bank accounts, depositary, custody, super ManCo and fundraising services, corporate services including HR and Payroll, and a pioneering ESG Ratings and Advisory solution.

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