Launch of the Calastone-Barclays Corporate Managed Settlement Service for Mutual Funds
We are delighted to work alongside Barclays to deliver on phase 2 of our settlement service which was designed by and for the mutual fund market. Bringing together Calastone's matching and netting technology with Barclays' expertise in cash and liquidity management will lead to reduced risk and liquidity exposure for fund managers and distributors.
The main benefits of the Barclays - Calastone managed settlement service are:
- The managed settlement service offers enhanced liquidity
- Intra-day credit lines are available, subject to Barclays' customer acceptance and credit assessment
- Pre-funding is an alternative solution, subject to Barclays' customer acceptance
Helping the whole of the market reduce cost and risk
Calastone is the leading independent transaction network for the global funds industry.
Based in London and Luxembourg, our multi-award-winning technology is used by over two hundred clients around the world
including Fidelity, Invesco, Schroders, M&G, Henderson, Aberdeen, Blackrock, JP Morgan, State Street, IFDS etc.
Fund manager clients who use Calastone can save between 36% and 69% on their fund processing costs and we process over 700,000 messages per month.
Mutual fund dealing volumes carried on the Calastone Transaction Network have risen by 8.9% compound every
month since November 2009 and continue to do so.
"We believe the mutual fund community will benefit from an independent, open access
and low cost transaction network."Managing Director of Calastone