Iveagh Private Investment House, the Guinness family office and asset management house, has signed an agreement to connect to Calastone Limited.
Participants on the Calastone network will be able to execute transactions in The Iveagh Wealth Fund and in turn, Iveaghs community can now access Calastones growing network through a single connection of their choice, reaping immediate advantages in cross-border trading.
Iveagh and its clients will benefit from Calastones bespoke configuration approach and enjoy the advantages of cost and risk reduction offered from transaction automation and straight through processing (STP). All Calastone participants enjoy straight through processing regardless of their size or technology capabilities and are able to track exceptions on a real-time basis using Calastones Execution Management System, enabling them to react quickly and efficiently.
Ian Taylor, Chief Operating Officer of Calastone:
The Dublin fund community is an important focus for Calastone and we are delighted to welcome Iveagh Ltd to our fast growing mutual fund community of not only domestic distributors, wrap platforms and stockbrokers, but also to an ever lengthening list of international counterparties with which to transact their open architecture funds.
Leigh Bennett, Head of Operations at Iveagh Private Investment House:
We wanted the facility to monitor all trades for our Iveagh Wealth Fund directly and the flexibility of the Calastone offering and accessible pricing model allows us to do this in a highly cost effective way. Using Calastones system we have full visibility and control of order flow. Another big advantage is the Calastone settlement solution, which will give us full automation right through the fund transaction lifecycle.
L.D.