Instinet Joins Mutual Fund Community Via Calastone

Calastone Limited offers equities trading for its mutual fund participants. Instinet Europe is the first equities broker connected to Calastone. Participants are now able to process both mutual fund and equities transactions through a single point of connection with Calastone

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Calastone Limited offers equities trading for its mutual fund participants. Instinet Europe is the first equities broker connected to Calastone.

Participants are now able to process both mutual fund and equities transactions through a single point of connection with Calastone whatever their preferred messaging standard or protocol and without any additional investment technology. As mutual fund orders have become electronic, so too can Calastone now eliminate any manual equities trading for participants, helping them improve their overall trading efficiencies.

By transacting with Instinet Europe and taking advantage of its sophisticated brokerage services including smart order routing, algorithmic trading tools, direct market access and sales trading, participants can be confident that they will be meeting their regulatory best execution requirements.

We are delighted to welcome Instinet Europe as our first equities brokerage participant, says Kevin Lee, managing director, Calastone. We believe in a model whereby participants will be able to execute all of their client orders, regardless of asset class, through a single platform and we will continue to add additional message types and assets classes as clients demand them.

This single connection approach by which to trade an ever-wider range of asset classes will continue to add value to the mutual fund community and help drive costs down.

We are pleased to be reaching the mutual fund community via Calastone, says Richard Balarkas, CEO, Instinet Europe Limited. For some forty years now we have been pioneers in electronic equities trading and support any effort to improve transaction efficiencies. We can see there is huge potential for the mutual fund industry to embrace STP as this will only benefit the end customer.

L.D.

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