Chris Donohoe

Registrations of new financial products continued in the December 2024 quarter, led by managed accounts which have continued their strong growth trajectory, with the number of active SMA products doubling in the past three years, according to APIR Systems.

APIR chief executive, Chris Donohoe, says there were 25 managed accounts product registrations in the December quarter, which is 66 per cent higher than the rolling five-year average for the period.

“In total there was 197 financial products registered in the 2024 December quarter, which is in line with the five-year rolling average for that period. This indicates a strong and consistent trend of new product issuance by the industry,” Mr Donohoe said. 

“The data builds on the solid start to the 2024-25 financial year, with strong registrations also seen in the September quarter,” Mr Donohoe said.

“Another key highlight from the December quarter was seven new participants registered to use the APIR coding regime during the period, in line with the quarterly average.

“Terminations for the December 2024 quarter at 192 were up 20 per cent on the rolling five-year average for the period.”

While product terminations were above the five-year rolling average, Mr Donohoe said this was driven by the undertaking of several joint data quality projects to cleanse and clean up APIR customers’ legacy products.

“We’ve been working closely with our customer base to streamline their product offerings and, by being proactive, we keep our data relevant,” Mr Donohoe said.

“While overall registrations for the December quarter are in line with the five-year rolling average, it is again managed accounts which continue to see exponential growth, a trend that has seen the number of active products double over the last three years..     

“This growth in SMA products demonstrates the continued evolution of the managed accounts and how the industry is leveraging off the significant benefits of the APIR coding regime.

“APIR Systems’ strategy is to stay ahead of the curve in relation to industry developments. We’re keeping a keen eye on how global and domestic geopolitical factors, coupled with advancements in artificial intelligence, shape product development, “Mr Donohoe said.

APIR identifies, codes and manages reference data for unlisted financial products. In its 30 years of operation, it has identified over 30,000 individual financial products.  

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