With a rich heritage and over three million private and corporate clients, F&C’s community will be able to benefit from connectivity to Calastone’s rapidly expanding list of global fund distributors and aggregators through a single connection, reaping immediate advantages in cross-border trading access to distributors and aggregators. All Calastone participants enjoy straight through processing regardless of their size or technology capabilities, they are able to track exceptions on a real-time basis, enabling them to react quickly and efficiently.
Whatever the size of participant firm (from tier one to boutique firms); whether located on or offshore; whether communicating domestically or internationally with counterparties; whether preferring manual processes (such as electronic fax) or standards and protocols (either ISO 15022 or ISO 20022), Calastone’s transaction network enables full mutual fund industry interoperability.
Commenting on the agreement, Kevin Lee, Managing Director of Calastone said, “I’m delighted to see another key industry player join Calastone. We believe that choice and competition will benefit all participants in the mutual fund industry and support F&C’s decision to offer its end clients greater operational efficiency via its connectivity to Calastone. We are continuing to offer the entire mutual funds industry complete front to back STP regardless of participants’ incumbent technology or connectivity preference.”
John Yule, Head of UK Retail at F&C Asset Management, added, “At F&C we are committed to providing a first class investment service for our clients. Calastone offers an alternative in mutual fund transactions enabling us to enjoy significant cost savings, increased business process automation and STP efficiency through this relationship. Calastone’s network provides the best scalable solution to automate and transact our order flow both now and in anticipation of the demand in the future.”