Calastone links to SunGard STN to increase European and US distribution
NEWS | 15 February 2010
Calastone Limited, an independent cross-border transaction network for the mutual funds industry, has established connectivity to the SunGard Transaction Network (STN) order routing platform. Connectivity will offer Calastone’s clients automated access to the STN Funds global fund trading network of providers, distributors and aggregators through a single connection.
STN Funds provides access to mutual funds, UCITS and exchange traded funds. By connecting to STN Funds, Calastone’s clients are able to transact with STN’s established US and European funds trading network in addition to Calastone’s growing community of domestic and international fund providers. This connection will help firms gain operational efficiencies and reduce cost and risk by helping to improve interoperability between platforms, intermediaries, stock brokers, wealth managers, fund companies and their TPA’s.
Kevin Lee, managing director of Calastone said, "Calastone’s objective is to provide easy connectivity and full interoperability to the global funds industry. This link offers increased potential for scale of business opportunities for our clients, all through a single connection to Calastone."
Bob Ward, chief operating officer of SunGard’s wealth management business, said, "Automated mutual fund trading combined with expanded access to a broader range of investments through one connection will provide Calastone’s clients with the access and efficiencies to transact effectively with the international community. We are pleased to offer Calastone’s clients access to our network of global mutual funds."
About the SunGard Transaction Network (STN)
A trade automation, compliance and connectivity solution, the SunGard Transaction Network (STN) links institutions throughout the financial services value chain, facilitating the purchase and sale of many securities types, including U.S. and foreign equities, fixed income, mutual funds, money market funds, certificates of deposit, and commercial paper. Integrated directly with SunGard systems and with third-party systems, STN helps automate the entire transaction lifecycle.
SunGard is one of the world’s leading software and IT services companies. SunGard serves more than 25,000 customers in more than 70 countries. SunGard provides software and processing solutions for financial services, higher education and the public sector. SunGard also provides disaster recovery services, managed IT services, information availability consulting services and business continuity management software.
With annual revenue exceeding $5 billion, SunGard is ranked 435 on the Fortune 500 and is the largest privately held business software and services company on the Forbes list of private businesses. Based on information compiled by Datamonitor*, SunGard is the third largest provider of business applications software after Oracle and SAP. Continuity, Insurance & Risk has recognized SunGard as service provider of the year an unprecedented six times. For more information, please visit SunGard at www.sungard.com.
*January 2009 Technology Vendors Financial Database Tracker www.datamonitor.com
STN Order Routing Services offered throughout Europe, the Middle East, Africa and Asia Pacific are provided by SunGard Global Execution Services Limited - Authorised and Regulated by the Financial Services Authority * Registered in England and Wales No. 3127109 * Registered Office: 25 Canada Square, London E14 5LQ. SunGard Global Execution Services Limited is exempted from licensing under Australia Securities & Investments Commission Class Order 03/1099 and is regulated by the FSA under UK laws, which differ from Australian laws.
STN Order Routing Services offered throughout the United States are provided by SunGard Institutional Brokerage Inc. Member FINRA/SIPC
Trademark Information: SunGard, the SunGard logo and STN are trademarks or registered trademarks of SunGard Data Systems Inc. or its subsidiaries in the U.S. and other countries. All other trade names are trademarks or registered trademarks of their respective holders.