CAIS, BetaNXT Partner to Streamline Alts Access for Broker-Dealer Networks

BetaNXT and CAIS have entered a partnership connecting CAIS’s alternative investment marketplace to BetaNXT’s wealth management technology network, the companies said July 7.

The alliance is designed to automate the alternatives lifecycle for advisers at firms that use BetaNXT’s systems, covering subscription documents, capital calls, trade processing, confirmations, settlements, and position reporting, according to the companies.

“Our partnership with CAIS strengthens our ability to support alternatives as part of a broader connected wealth experience and strengthens the value we deliver through our platform,” said Tim Rutka, president of Beta, a BetaNXT business.

CAIS operates an alternative investment marketplace used by more than 2,000 wealth management firms and more than 62,000 financial advisers overseeing roughly $7.5 trillion in end-client assets, according to the company. BetaNXT provides trading, settlement, asset-servicing, and data-management technology to broker-dealers, advisers, wealth managers, and asset managers.

“Advisers are moving alternatives from optional to essential, and the firms that can run them at scale will win,” said Brendan Cuddihy, chief operating officer of CAIS. “This partnership gives BetaNXT firms a more streamlined way to access CAIS’s alternative investment marketplace, helping advisers connect with leading alternative asset managers and operate with greater efficiency.”

Regarding timeline, CAIS told AltsWire that it is actively working with partners on deployment and looks forward to announcing when firms go live with the integration.

Neither company disclosed financial terms, and the announcement did not specify how many BetaNXT-network firms will gain access to CAIS’s platform through the partnership.

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