Direxion Enters ETF Market
Direxion, a provider of alternative investment strategies, is entering the ETF space with Direxion Shares 3x Exchange-Traded Funds. The new ETFs are a group of leveraged bull and bear index funds that seek 300% of the daily performance or 300% of the inverse of the daily performance of the four distinct Russell indexes they benchmark.
The new funds are designed to give investment advisors the ability to execute active trading in all types of markets and to effectively allocate capital to improve risk-adjusted returns.
FolioDynamix Joins Communications Gateway
FolioDynamix, a provider of technology platforms and services for the managed account industry, is joining the Depository Trust & Clearing Corporation, which provides a gateway for the managed account industry to exchange information on account initiations. DTCC also provides ongoing customer profile updates and account maintenance.
The use of FolioDynamix is designed to allow the automatic and centralized transformation of information, reducing the risk of error and speeding up the process.
Scottrade Adds Portfolio Director
Scottrade Advisor Services has added Portfolio Director portfolio management software to its platform providing custodial and institutional trading services for independent investment advisors.
Portfolio Director offers a desktop version for firms that require multi-user access to client data and a Web version for advisors who want to access client data through the Internet.
For more information, visit www.ScottradeAdvisor.com or www.Portfolio Director.com.