BNY Mellon Asset Management goes live on Calastone’s fund transaction network
NEWS | 24 November 2010
Calastone has announced the addition of BNY Mellon Asset Management to its fund transaction network, specifically for the BNY Mellon Investment Funds range.
Calastone offers electronic order-routing between fund buyers and fund managers whatever their preferred format and provides automated net settlement services through trade order-matching.
Fund providers are able to benefit from fully electronic STP throughout the transaction lifecycle, whatever the size of participant firm (from tier one to boutique firms); whether located on or offshore; whether communicating domestically or internationally with counterparties; whether preferring manual processes (such as electronic fax) or standards and protocols (either ISO 15022 or ISO 20022), Calastone’s transaction network enables full mutual fund industry interoperability.
Commenting on the announcement, Alexander Hofmann, Sales Director of Calastone said, "We are delighted to see another key industry player select Calastone for order-routing. Strategically, BNY Mellon Asset Management is a very important client for us since so many of our distribution clients want to deal with them via Calastone. We believe that choice and competition will benefit all participants in the mutual fund industry."