By connecting to Calastone, providers are able to offer their open architecture funds to a wide variety of investors irrespective of domicile or preferred messaging protocol. Calastone enables providers to lower costs, gain visibility and keep control of their order flow, without any membership fees or technology expenditure. All Calastone participants enjoy straight through processing regardless of their size or technology capabilities and are able to track exceptions on a real-time basis, enabling them to react quickly and efficiently.
Commenting on the agreement, Kevin Lee, Managing Director of Calastone said, “We welcome Invesco Perpetual, the latest in a growing number of fund providers enjoying lower costs, increased global reach and full STP. Firms are clearly appreciating that irrespective of their current preferred protocol or messaging format, they immediately future proof their technology by becoming ISO 20022 compliant, reaping the benefits of STP and business process automation by connecting to Calastone. For every fund provider, distribution is key and Calastone not only offers access to a growing community of domestic distributors, wrap platforms and stockbrokers, but also to an ever lengthening list of international counterparties with which to transact their open architecture funds.”
Mike Morecroft, Head of European Transfer Agency at Invesco Perpetual added, “We are pleased to be connecting to Calastone’s transaction network. Doing so is consistent with our commitment to continue to drive automation within the funds industry to help lower costs and reduce risk for both ourselves and our clients.”