Capita Financial Administrators in Ireland selects Calastone’s order routing service
NEWS | 21 November 2011
Capita Financial Administrators (Ireland) Limited has signed an agreement to use Calastone’s order routing service. Capita, one of the fastest growing fund administrators in Ireland, will now work with Calastone to offer straight-through-processing for fund dealing, providing a real-time order management process for its investment management clients.
A number of Capita’s clients and their respective distribution platforms are already signed up to this automated solution, which currently represents over 40% of all transactions being processed. This trend is set to increase further, with more clients and platforms wanting to engage in an automated process.
Fund providers can now benefit from an electronic solution when investing. This is regardless of whether they are located on-shore or off-shore or whether they communicate domestically or internationally with counterparties. This solution reduces risk, cost and removes the need for manual intervention, by automating the process throughout the dealing lifecycle.
Paul Nunan, managing director of Capita Financial Managers in Ireland, said: "Providing an automated solution to our clients and their investors enables greater efficiencies in fund dealing. At a time when all market participants are looking at ways to streamline their processes, reduce risk and reduce their costs, Calastone’s automated service provides a more efficient standardised process."
Alexander Hofmann, Sales Director of Calastone, said: "We are excited to have entered into partnership with Capita in Ireland. We are confident that Calastone’s offering will add value to their business, as well as that of existing and prospective clients, given our transaction network enables full interoperability."