F&C Fund Management Limited goes live with Calastone’s automated messaging settlement
NEWS | 18 November 2010
F&C Fund Management Limited, a leading diversified multi-specialist investment management group with a heritage spanning more than 140 years, has today signed an agreement to use Calastone’s settlement and matching service.
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.
Signing up to Calastone’s settlement service will enable F&C’s clients to benefit from Calastone’s straight-through-processing approach. This removes any need for manual processing and reduces risk by automating business flow processing, from orders through to settlement.
Commenting on the announcement, Alexander Hofmann, Sales Director of Calastone said, "We are delighted to see yet another fund manager sign up to Calastone’s settlement service."
Christopher James, Director Institutional Services at Cofunds commented, "As an early supporter of the Calastone settlement solution we are delighted to see more fund groups connecting, getting ever closer to 100% STP throughout the transaction lifecycle. Working with Calastone is good for our clients and good for the funds industry."
Tim Archer, Head of Operations, at Redmayne-Bentley and Co-chair of the APCIMS Operations committee added, "I am delighted to see the fund managers signing up to the Calastone settlement service. Working towards full lifecycle automation will ultimately benefit the investor, we completely support straight through processing and applaud Calastone for providing a service designed from the ground up for the primary funds market."