Raymond James connects to Calastone for single-point access to global funds via Advent Software’s Moxy® OMS______

Raymond James, the investment services company who provide a full support package to independent wealth managers, has signed an agreement to become a member of Calastone’s independent cross-border transaction network. The connectivity to the network, provided via Advent’s Moxy® order management system (OMS), will offer Raymond James the opportunity to connect to an expanded number of fund providers.

Advent Software, a leading provider of software and services for the global investment management industry, has used the standard FIX messaging protocol to provide the connectivity via its Moxy® OMS. By connecting to Calastone’s transaction network via Moxy® OMS, Raymond James will benefit from electronic connectivity to fund providers through a single connection and orders will be sent electronically from Moxy® OMS to Calastone, which provides a universal message communication and ‘translation’ service. Additionally, Raymond James can now send and receive messages via industry standard formats, including ISO 15022 and ISO 20022.

A connection to Calastone equips fund distributors with the opportunity to lower costs, reduce risk and benefit from increased visibility and greater control over order flows. Distributors can either connect directly from their existing Order Management Systems, such as Advent’s Moxy® OMS, or use Calastone’s Execution Management System (EMS), which provides a consolidated view of all order flows. This enables them to react to exceptions quickly and efficiently and deliver better service to their clients.

Commenting on the agreement, Alexander Hofmann, Sales Director at Calastone said, “We are delighted that Raymond James is now connected to our network, via Advent Software. We believe that Raymond James will immediately benefit from reduced costs, improved efficiency and the substantial removal of risk. Not only are participants finding that Calastone is highly cost competitive, but industry feedback has also highlighted that our greatest strength lies in helping participants address their business process, by providing a flexible approach and value added services.”.

Hofmann continued, “We believe that competition ultimately drives down transaction costs and increases the rate of innovation. Raymond James will benefit from the ability to send orders electronically to a growing number of fund providers, many of whom are using SWIFT messaging via Calastone. It is our ultimate aim to offer the mutual funds industry complete front-to-back STP regardless of the incumbent technology or connectivity chosen by each participant.”

Stuart Wright, Head of Operations of Raymond James, added, “Calastone’s ability to connect to the entire funds market without the need for the fund providers to incur costly technology spend will significantly increase our levels of automation. We are confident that Calastone’s low cost and easy-to-connect model will continue to attract ever more fund providers and transfer agents.”

Jan Dinger, Head of Sales UK, Advent Software EMEA added, “We are continually looking for ways to help our clients improve their operational efficiency. We are pleased to work with Calastone and Raymond James on this initiative and look forward to future projects with Calastone, where together, we can enhance a firm’s STP, improve efficiency, and reduce costs and risks for the investment management community.”

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