Gartmore selects Calastone’s automated messaging settlement service______

Gartmore Investment Management (Gartmore), a leading long only and alternative asset management firm providing investment management products and services to retail and institutional investors, has today signed an agreement to use Calastone’s settlement and matching service.

Calastone offers electronic order routing between fund buyers and fund managers in their preferred format and provides automated net settlement services through trade order matching.

Signing up to Calastone’s settlement service will enable Gartmore’s clients to benefit from Calastone’s straight-through-processing (STP) 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, James Thompson, Head of Transfer Agency Operations at Gartmore said, “In February 2009, we made our funds available via Calastone’s order routing and transaction network. Calastone’s straightforward settlement solution has enabled us to take immediate advantage of the efficiencies on offer”.

Alexander Hofmann, Sales Director at Calastone, added, “Calastone enables distributors and fund providers to automate their settlement processes without the need for a change in market infrastructure. Mutual fund trade matching and calculation of net settlement positions allows clients in the UK and in other domiciles to benefit from a more efficient, standardised settlement process”.

Christopher James, Director Institutional Services at Cofunds commented, “We were quick to see the benefits of adopting the Calastone settlement solution. We have found it helped us to take another leap towards 100% STP, which helps us to provide a better service to our clients and the investors they service. We are delighted to be working with Calastone and hope to see more fund groups implementing the Calastone settlement system in the near future.”.

Tim Archer, Head of Operations, at Redmayne-Bentley and Co-chair of the APCIMS Operations committee, added, “I am pleased to see 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.”.

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