Calastone celebrates ten years digitising the trading of mutual funds ______

  • Since launching in 2008, Calastone has grown from a UK domestic business to becoming the largest global fund transaction network
  • Calastone serves over 1500 customers in 35 markets across Europe, Australia and Asia, processing over £90bn in trades per month
  • Celebrating ten years since the first trade, this month the firm processed its 300 millionth transaction message
  • Calastone’s network has lowered the cost of processing by more than £458 million*
  • Asia has seen a 52% increase in fund transaction in 2017

HONG KONG, 23 May 2018 Calastone, the global funds transaction network, today celebrates its ten year anniversary, having also processed its 300 millionth message earlier this month.

Having made its first trade in the UK on 22 May 2008, over the last ten years Calastone has scaled from a UK domestic 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. The organisation now serves 1,500 of the world’s leading financial organisations across 35 markets.

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 £90 billion worth of fund transactions per month. A recent study from Forrester revealed that the impact of the firms transaction network, equating to over £458 million* in cost savings for funds market participants.

As the local markets make progress in digitalising their systems and operations, there has been a 52% increase in fund transaction via the Calastone transaction network across Hong Kong, Singapore and Taiwan, in the past year. In Asia, the company continues to see a growing demand for more efficient transaction services, amid ongoing increases in total wealth and levels of investments.

Calastone predicts greater cost efficiencies in the future through its innovative, blockchain enabled, distributed market infrastructure, forecasting additional annual savings of £1.9bn. Testament to Calastone’s commitment to innovation, the company was awarded the Tech Tour Innovation Award for 2018, recognised as a leading technology innovator by Europe’s pre-eminent venture capital and technology community.

Leo Chen, Managing Director – Head of Asia, Calastone says;

“Asia’s asset management industry has made rapid progress in the past few years. Initiatives, such as the Mutual Recognition of Funds and the Asian Region Funds Passport, are set to promote fund flows and further improve the breadth of the regional funds industry. Calastone has been playing a significant role in facilitating the cross-border fund distribution growth and the further development of industry. We have been providing connectivity and automated infrastructure, enabling the Asian industry participants to access international markets with increased efficiency, reduced risk and lower costs.”  

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.”

 

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