Capita Financial Administrators has implemented Calastones settlement, matching and reconciliations functionality, giving it full STP from deal placement through to settlement.
Distributors placing STP fund instructions into Capitas investment manager delegates funds will be able to settle their trades and get automated daily reporting of their transactions and holdings via Calastone. Calastone said that Capita Financial Administrators and the investor will be able to see their settlement exposure in advance, thus significantly reducing their liquidity risk.
Chris Addenbrooke, CEO at Capita Financial Managers, said: “Following success of our dealing STP initiative with automated dealing rates now reaching 70%, we are working on implementing STP across our entire business. The implementation of the Calastone settlement and reconciliation modules forms an important part of that process.
(JDC)