Calastone, the largest global funds network, today announces that it is expanding its Brazilian network with the addition of fund administrator Vortx. This will enable Vortx and its fund manager clients to benefit from the efficiencies of automation and streamline the flow of fund transactions between trading counterparties, accelerating the Brazilian industry’s shift towards a more digital, transparent and timely fund administration environment.
By joining Calastone’s network, Vortx will become the first Brazilian fund administrator to offer true “open architecture,” enabling any fund distributor or fund manager to connect via their preferred electronic formats (API, SFTP, etc.), without the need for custom integrations, enabling full interoperability. This connection automates the processing of fund orders, reducing the operational burden for Vortx and its clients and supporting their ability to scale as the market continues to grow.
As Brazil prepares for the implementation of CVM 175 in 2025 —a regulatory framework designed to streamline and modernise areas including fund administration— Vortx, in collaboration with Calastone, is embracing open architecture to support the industry’s shift towards greater digitalisation and operational efficiency. This contrasts with the many firms that currently use manual processes to make fund transactions, resulting in a higher operational burden. By reducing reliance on manual processes, Vortx is well-positioned to enhance operational capabilities within Brazil’s evolving financial ecosystem.
Through Calastone’s network, Vortx and its fund manager clients will gain access to automated straight-through processing for fund transactions, providing a seamless, error-free experience that accelerates processes, automates reconciliation and reduces costs. Real-time visibility into trades also enhances transparency and operational control.
The flexibility and ease of connectivity that Calastone’s network offers will play a transformative role in the Brazilian asset management industry. Following recent go-lives with JP Morgan and Mirae, Vortx’s decision to join the network underscores Calastone’s momentum in attracting leading Brazilian financial institutions.
Nelson Pereira, Calastone’s Head of Brazil, comments:
“We are excited to welcome Vortx to Calastone’s expanding network in Brazil. The recent connections with Mirae and JP Morgan demonstrate how Brazilian financial institutions are increasingly leveraging Calastone’s solutions to drive their digital transformation, addressing both local demands and global market opportunities. By adopting an open architecture, Vortx empowers fund managers with a flexible, scalable infrastructure, enabling them to effectively navigate the complexities of the Brazilian market.”
Juliano Cornacchia, CEO at Vortx, comments:
“Acessing the Calastone network is an important milestone in our pursuit of innovation and operational excellence within our tech DNA. Through their network, we aim to deliver an automated and interoperable fund administration experience, helping our fund manager clients enhance their connectivity, increase the timeliness and transparency of the trading process, and reduce risk. This comes to solidifying our continued growth and realising our vision of becoming Brazil’s most digitalised, STP-driven fund administrator.”