Calastone continues to expand its global network for the funds industry by providing global interoperability for the complete lifecycle of a fund transaction from account opening to settlement. Connectivity to Calastone removes the need for capital investment in infrastructure changes and enables clients to become immediately protocol agnostic, reduce risk and improve STP (straight-through-processing).
Commenting on the agreement, Kevin Lee, Chief Executive Officer said, “We are delighted to welcome Fidelity, an investment manager and platform provider with such rich reputation and global reach, as the latest participant to join Calastone’s transaction network. Automation helps eradicate processing errors throughout the trading lifecycle and ensures the whole of the market benefits from reduced risk and increased operational control. We continue to spearhead new trading and post-trade processing initiatives for the fund industry. We believe these are re-shaping the way in which investors, distributors and fund providers are accessing investment funds globally. We will continue to address other industry inconsistencies and deliver efficiencies for 100% of the mutual fund industry.”
Ed Dymott, Head of UK Fund Partners at Fidelity Investment Managers, added, “We are committed to driving levels of automation and straight-through processing for our distributors. We have connected to Calastone’s order routing service as an electronic trading method for distributors, so that they will now benefit from greater choice, lower costs and reduced risks across trading activities. Calastone provides an ability to drive efficiency across the funds industry from orders through to settlement and reconciliation, and we will continue to work with them to provide automation between our distributors and fund partners.”