Calastone voices support for UK Platform Group selection of ISO 20022 for re-registrations
NEWS | 14 July 2009
Calastone Limited, the independent cross-border transaction network for the mutual funds industry, today voiced its support for the UK Platform Group’s decision to elect ISO 20022 standards to underpin future platform to platform registrations.
Kevin Lee, Managing Director of Calastone said, "In 2008, the international mutual fund industry agreed the use of ISO 20022 as the protocol of choice for all mutual fund transactions. The decision by the UK Platform Group illustrates the realisation by the UK mutual fund industry to start adopting this standard as the connectivity protocol for re-registrations. We fully support their efforts to move to ISO 20022 and look forward to helping more providers, distributors and aggregators enjoy immediate ISO 20022 compliance by connecting and enjoying process automation on Calastone’s domestic and cross-border transaction network."
ISO 20022 lies at the heart of Calastone and all instructions and messages are automatically converted to this standard. As such all participants transacting orders via Calastone are immediately ISO 20022 compliant and can connect with any UK platform. Connecting to Calastone enables them to take advantage of STP efficiencies through automation of the entire mutual fund transaction lifecycle including settlement and business flow process automation.