Calastone, the global funds transaction network, today celebrates its ten year anniversary, having also processed its 300 millionth message earlier this month.
Having made its first trade in the UK on 22 May 2008, over the last ten years Calastone has scaled from a UK domestic start-up to a successful global enterprise and the largest global fund transaction network. Following its early success in the UK, the company quickly expanded opening offices in Europe, Australia and Asia. The organisation now serves 1,500 of the world’s leading financial organisations across 35 markets.
The company’s transaction network enables its customers to reduce cost and risk through automated fund order processing, enabling over 15,000 trading links globally and processing over £90 billion worth of fund transactions per month. Since launch Calastone has significantly expanded its product to drive efficiency across the whole transaction lifecycle, from the placing of an order, through to the reconciliation and settlement of the order. A recent study from Forrester revealed that the impact of the firms transaction network, equating to over £458 million* in cost savings for funds market participants.
Calastone predicts greater cost efficiencies in the future through its innovative, blockchain enabled, distributed market infrastructure, forecasting additional annual savings of £1.9bn. Testament to Calastone’s commitment to innovation, the company was awarded the Tech Tour Innovation Award for 2018, recognised as a leading technology innovator by Europe’s pre-eminent venture capital and technology community.
Julien Hammerson, CEO Calastone, adds;
“I am immensely proud to see how far the business has come and the transformative effect Calastone has had in automating global funds order processing. The speed of our growth is testament to the quality, commitment and drive of our team, along with the support of our customers.
Calastone has had a significant impact on the global funds industry, generating hundreds of millions of pounds of cost savings for the benefit of all. We remain committed to our continued investment in innovation and I am excited about the huge potential that our new blockchain infrastructure offers to our clients across the expanding number of markets that we serve.”
