A J Bell Securities, the stockbroking, dealing, settlement and custody services provider has today announced it has connected to Calastone’s independent cross-border transaction network. Calastone offers electronic order routing between fund buyers and fund managers whatever their preferred format and provides automated net settlement services through trade order matching.
Connectivity to the Calastone community is available through a single connection. Orders are sent electronically via the transaction network, which provides a universal message communication and ‘translation’ service. By connecting to Calastone, A J Bell will benefit from Calastone’s automated approach enabling transactions to be processed using ISO 20022 message standards irrespective of how they are submitted. This unified approach delivers considerable straight- through-processing efficiencies for all Calastone participants.
Distributors can connect directly using their existing technology and benefit from Calastone’s Execution Management System (EMS), which provides a consolidated view of all order flow at any stage of the lifecycle, from order through to settlement. This enables firms to react to exceptions quickly and efficiently offering reduction of settlement risk and opportunities for further client service improvement.
Commenting on the announcement, Alexander Hofmann, Head of Sales of Calastone said, “We are delighted to see another client benefiting from the Calastone mutual fund service. Calastone’s service reduces cost, improves efficiency and removes risk for all our clients. We are committed to providing 100% STP and full industry interoperability regardless of location, size or message protocol preference. Every new participant on our network increases choice, distribution capacity and adds to the flow available for all fund managers, distributors, transfer agents, wrap platforms, wealth managers, stockbrokers, hedge funds and pension funds, throughout Europe, Asia, North and South America.”.
Steve Lawrance, Client Services Director of A J Bell Securities added, “We are pleased to be working with Calastone. They have delivered immediate benefits for us in the funds order processing chain. Their flexible approach is a positive step towards removing manual interfaces and increasing our efficiencies and risk controls. Calastone’s ability to connect the entire funds market without investment in costly technology infrastructure will increase our STP levels significantly.”.