Neptune Investment Management Limited selects Calastone’s order routing and messaging settlement service
NEWS | 02 August 2010
Neptune, a boutique fund management group and one of the fastest growing investment firms in the UK, 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 Neptune’s clients to benefit from Calastone’s straight-through-processing approach. This approach 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. Our settlement service allows participants to automate their settlement processes without the need for a change in market infrastructure. Our aim is to help participants achieve genuine STP regardless of their size, location or their current payment mechanisms".
Dawn Kenna, Investor Services Manager at Neptune, added, "We are delighted to benefit from Calastone’s unique settlement service which allows distributors and fund providers to automate their settlement processes more efficiently."
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."