Calastone Limited, the only independent cross-border transaction network for the mutual funds industry seeks to help the mutual fund industry become fully automated. Fund providers, distributors, custodians and transfer agents can all transact their mutual fund orders over Calastone’s transaction network without needing to change their technology or preferred messaging protocol or standards. All messages received into Calastone are normalised to Calastone ISO 20022 using a ‘universal translation’ service. As such, participants can communicate universally without requiring any specific technology change or investment. The transparency and visibility provided by Calastone’s execution management system helps participant firms manage and monitor their executions and achieve real cost savings throughout the entire transaction lifecycle.
Ian Taylor, COO of Calastone explained, “What all participants in the mutual fund industry want is operational efficiency, reduced risk and reduced cost. Participant firms don’t need to pay any membership fees nor do they have to invest in new technology because Calastone deals with orders and flow in any format; it normalise all messages to Calastone ISO 20022.”
Helen Vaughan, Operations Director at J O Hambro Capital Management added, “We specifically selected Calastone to carry our offshore funds as an automated environment affords us greater cost control. Widespread distribution of our funds is key and having access to Calastone’s community of fund distributors, transfer agents, wrap platforms, and stockbrokers helps us to stay ahead for our investors in this evolving market.”