Iveagh and its clients will benefit from Calastone’s bespoke configuration approach and enjoy the advantages of cost and risk reduction offered from transaction automation and straight through processing (STP). 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 using Calastone’s Execution Management System, enabling them to react quickly and efficiently.
Commenting on the agreement, Ian Taylor, Chief Operating Officer of Calastone explained, “The Dublin fund community is an important focus for Calastone and we are delighted to welcome Iveagh Ltd to our fast growing mutual fund community of not only domestic distributors, wrap platforms and stockbrokers, but also to an ever lengthening list of international counterparties with which to transact their open architecture funds.”.
Leigh Bennett, Head of Operations at Iveagh Private Investment House added, “We wanted the facility to monitor all trades for our Iveagh Wealth Fund directly and the flexibility of the Calastone offering and accessible pricing model allows us to do this in a highly cost effective way. Using Calastone’s system we have full visibility and control of order flow. Another big advantage is the Calastone settlement solution, which will give us full automation right through the fund transaction lifecycle”.