By connecting to Calastone, distributors are able to remove manual order entry processing, leading to reduced risk and increased visibility and control of their order flow. Calastone provides a universal communication and message translation service.
Distributors can connect directly from their existing Order Management Systems or use Calastone’s Execution Management System (EMS), providing a consolidated view of all their order flow. This enables them to react to exceptions quickly and efficiently and deliver a better service to their clients.
Commenting on the agreement, Kevin Lee, Managing Director of Calastone said, “Core to our principles, we support client choice; choice in terms of standards and protocols and choice in terms of freedom to select value added services. We applaud Brewin Dolphin’s open-minded view of the electronic marketplace and look forward to competing for their transactions and settlements by offering additional services designed to help their business processes.”
Lee Allen, Head of Electronic Trading Services at Brewin Dolphin Limited, said, “Brewin Dolphin has been using electronic dealing for funds for some years now. There is little doubt about the advantages to us and the industry and we are now looking forward to working with Calastone to further extend this idea and to increase our reach. Calastone’s ability to process transactions regardless of the messaging system used (i.e. SWIFT or FIX) combined with their easy-to-connect-to model is likely to attract more fund providers and transfer agents, which in turn will bring further efficiencies to the industry.”