Calastone helps the mutual fund industry by providing a transaction network on which its fast growing global community of fund providers, distributors, wrap platforms, wealth managers, stockbrokers, transfer agents and hedge funds can transact their mutual funds. Calastone is the only venue where the global mutual fund industry can meet to transact mutual fund orders, irrespective of their size, geographic location, preferred messaging protocol, standard or technology. Whatever the preferred format of a participant, Calastone’s transaction network ‘normalises’ all messages to Calastone ISO 20022, enabling the industry to become fully automated throughout the trading lifecycle. Participants reap the benefits that straight through processing can bring specifically reduced costs, reduced risks and greater control using Calastone’s Execution Management System (EMS).
Kevin Lee, Managing Director of Calastone commented, “Since launch, we have been steadily signing up participants from around the world and we are delighted to welcome GLG as our first participant with a significant Alternative offering as well as mutual fund business. Keenly aware of the impact that trading efficiency and cost management can have on fund performance in the securities markets, we applaud GLG for being the first manager of this type to sign up and take advantage of the benefits access to Calastone’s fast growing global community can offer.”
A spokesperson at GLG Partners added, “In our quest for increased automation and efficiency and to enable our clients to easily trade GLG’s mutual funds, Calastone’s offering is naturally appealing. We have been impressed not only with the speed in which Calastone is signing up participants, but also its commitment to making the movement of funds in the mutual fund market more efficient.”