- Why Calastone?
Henderson, one of Europe’s largest investment managers with £60.3 billion assets under management (as at 31 March 2010), has today signed an agreement to use Calastone’s settlement and matching service.
Calastone offers electronic order routing between fund buyers and fund managers whatever their preferred format and provides automated net settlement services through trade order matching.
Signing up to Calastone’s settlement service will enable Henderson’s clients to benefit from Calastone’s straight-through-processing approach. This approach removes any need for manual processing and reduces risk by automating business flow processing, from orders through to settlement.
Commenting on the announcement, Alexander Hofmann, Sales Director of Calastone said, “We are delighted to see yet another fund manager sign up to use our settlement service. More and more firms are appreciating that connecting to the service helps reduce infrastructure costs. The service is not expensive or complicated to use and everybody can benefit because Calastone provides global interoperability in terms of messaging and communications mediums”.
Karen Zachary, Director of Client Service Operations at Henderson added, “Straight-through-processing has had a major impact on the way the industry buys funds, this next step can only benefit Fund Managers and clients alike.”
Christopher James, Director Institutional Services at Cofunds commented, “We implemented the Calastone settlement system in March of this year and it has served to help us provide a superior service to our clients. It is great to see more fund groups adopting the service as we have always been a staunch champion of the move to 100% STP across the industry.”
Tim Archer, Head of Operations, at Redmayne-Bentley and Co-chair of the APCIMS Operations committee added, “I am delighted to see the fund managers signing up to the Calastone settlement service. Working towards full lifecycle automation will ultimately benefit the investor, we completely support straight through processing and applaud Calastone for providing a service designed from the ground up for the primary funds market”