Last week, the Calastone network carried its 100 millionth message. This is a significant step for Calastone and the global funds industry. It demonstrates how successful the network has been in improving operational efficiencies and removing the risks associated with manual processing.
The first message sent on the network was in 2008. Over the years the number of messages has been growing exponentially. Now more than 810 customers in 24 domiciles process domestic and cross-border transactions across the transaction network. Over 99% of fund managers in the UK are now taking advantage of the cost and risk reduction automated processing offers.
Julien Hammerson, Chief Executive Officer, said ”This is an important milestone in Calastone’s evolution. Since our first message in May 2008, the company has transformed the way the funds industry is connected. Our global network continues to expand rapidly as we bring the full benefits of automation internationally.”
