Martin Currie Investment Management Limited (Martin Currie) selects Calastone’s automated messaging settlement service
NEWS | 14 July 2010
Martin Currie, the specialist active equity manager, 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 Martin Currie’s clients to benefit from Calastone’s straight-through-processing (STP) 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, "Martin Currie joins a growing community of fund managers signing up to Calastone’s settlement service. The Calastone settlement model is based on a matching engine approach designed to calculate counterparty net settlement positions together with automated notification of legal title and will allow Martin Currie to settle their transactions using a more efficient and economic model".
Alan Burnett, Head of UK Intermediary Sales at Martin Currie said: "The service we offer our clients is extremely important to us. We are delighted to have signed up to Calastone’s settlement service which we believe will further benefit our clients and ensure they continue to receive the high level of service they expect from Martin Currie".
Christopher James, Director of Institutional Services at Cofunds, commented: "As early supporters of the Calastone settlement solution, we are delighted to see more fund groups connecting, getting us 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".