Schroders in Luxembourg go live with their funds on Calastone
NEWS | 07 December 2009
Schroders Investment Management (Luxembourg), S.A., the Luxembourg based arm of global asset management firm Schroders has selected Calastone’s open architecture cross-border transaction network, to distribute their Luxembourg funds in the United Kingdom.
The addition of Schroders Luxembourg to the Calastone network expands the already extensive list of onshore and offshore range of funds available for access to distributors and transfer agencies. All flow across Calastone’s network is afforded full STP throughout the lifecycle of any transaction from trade through to settlement and visibility and transparency are straightforward using Calastone’s execution management system.
Kevin Lee, Managing Director added, "Seeing a key Luxembourg player such as Schroders appreciate the cost benefits and operational efficiencies that joining Calastone can afford is rewarding for us. It has always been Calastone’s promise to deliver full STP to all participants both on and offshore and as more organisations participate we are seeing this become a reality. As we ourselves expand our service into this important region, we are delighted that Schroders has earmarked Calastone to assist them in growing their coverage into Europe."
Gary Janaway, Operations Director at Schroders added, "We liked the simplicity that Calastone brings to the order routing, execution and settlement of mutual fund transactions. Messages received into Calastone are normalised to Calastone ISO 2022 using a translation service which allows us to continue to use our existing messaging capability without incurring significant investment in new infrastructure technology. Connecting to Calastone means we are able to focus on our core business; providing a first class investment service for our clients from trade to settlement, whilst keeping operational risk down and expanding our distribution reach."