Cofunds has fully implemented Calastone’s transaction, delivery and reporting mechanism for the Cofunds Institutional custody and administration service.
By connecting to Calastone’s transaction network, Cofunds’ Institutional custody and administration service will provide full electronic STP throughout the transaction lifecycle including full settlement. Connecting to Calastone removes manual order entry processing, leading to lower costs, reduced risk and increased visibility and control of the transaction flow.
“By adopting an open architecture approach to industry connectivity and now connecting Calastone, we can ensure that our clients can benefit from our institutional services, irrespective of their messaging preference, including SWIFT via Calastone,” says Christopher James, director of Institutional Services, Cofunds.
“Our full settlement service via SWIFT and Euroclear will change the mutual funds landscape enabling all firms to benefit through STP helping firms enjoy greater efficiencies in these cost conscious times,” says Kevin Lee, managing director, Calastone.
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