Calastone celebrates ten years digitising the trading of managed funds

  • Ten years since its first trade, Calastone celebrates 300 million messages transacted on its network
  • Since launching in 2008, Calastone has grown from a UK domestic business to becoming the largest global fund transaction network, processing over £90bn [A$161 billion] in trades per month across 35 markets
  • Calastone’s network has lowered the cost of processing by more than £458 million* [A$818 million]

SYDNEY, 22 May 2018: Calastone, the global funds transaction network, today celebrates its ten year anniversary as well as its 300 millionth message processed this month, a substantial increase on its 200 million message milestone reached in March 2017.

The 50 percent growth in transaction volume over the last 12 months is a testament to the power and momentum that Calastone has been able to generate over the last decade that has seen managed funds grow into a global industry and critical economic pillar.  After making its trade debut in the UK on 22 May 2008, Calastone has scaled from a domestic British start-up to a successful global enterprise and the largest global fund transaction network. Following its early success in the UK, the company quickly expanded opening offices in Europe, Australia and Asia.

Australia has been a key market for Calastone, where its technology now supports over 97% of transactions processed by investment platforms, with 65% of fund managers using the service to receive and process investor orders and reporting.

Sarah Hayward, Managing Director – Head of Australia and New Zealand, Calastone says;

“In Australasia, Calastone has grown to be a critical strategic partner for platforms, fund managers and administration providers who have harnessed technology, specifically scalable networks that offer centralised processing, to help future proof their businesses and focus on growth. This has been paramount where regulatory changes have consumed resources and highlighted the need for improved value and less risk for consumers.

Julien Hammerson, CEO Calastone, adds;

“I am immensely proud to see how far the business has come and the transformative effect Calastone has had in automating global funds order processing. The speed of our growth is testament to the quality, commitment and drive of our team, along with the support of our customers.

Calastone has had a significant impact on the global funds industry, generating hundreds of millions of pounds of cost savings for the benefit of all. We remain committed to our continued investment in innovation and I am excited about the huge potential that our new blockchain infrastructure offers to our clients across the expanding number of markets that we serve.”

The company’s transaction network enables its customers to reduce cost and risk through automated fund order processing, now enabling over 15,000 trading links globally and processing over A$161 billion worth of fund transactions per month. A study from Forrester recently quantified the impact of the firm’s transaction network as being over A$818 million* in cost savings for funds market participants. Calastone predicts greater cost efficiencies in the future through its innovative, blockchain enabled, distributed market infrastructure, forecasting additional annual savings of £1.9 billion [A$3.4 billion].

Note:
*https://www.calastone.com/news/calastone-forecasts-over-1-9bn-savings-for-the-mutual-funds-market-in-move-to-blockchain/