As the domestic and cross border investment funds market continues to grow so too does the need for automation and operational efficiency. Calastone enables global distribution through connection to the Calastone transaction network, providing access to over 11,000 trading links worldwide.
Many fund managers and fund distributors still process orders manually, collating orders across the organisation and often relying on paper forms submitted by fax to place the order. Teams of people are needed to generate and process these orders, making phone calls to the fund manager to confirm receipt of their fax. This means that not only do trading partners lack real-time visibility of their orders, the process is prone to error due to the reliance on manual order processing.
By connecting to the Calastone Transaction Network, clients are able to electronically place and route orders directly to fund managers. Automated transaction and pricing notifications are initiated and distributed as part of our single automated order routing process, thus providing early notification of receipt and price confirmation. There is full visibility of the whole life-cycle of an order, from initial instruction to electronic confirmation.
This reduces risk, lowers cost and increases efficiency when making transactions. Calastone enables clients to connect and communicate with trading counterparties in any messaging standard or protocol (including ISO 20022/15022, FIX protocols and many proprietary formats). We can also connect directly to other messaging networks, including SWIFT and FIX, on our clients’ behalf.