SEI Selects Calastone For Automated Order Routing

Fund services provider SEI has chosen Calastone, a fund transaction network, to provide its order routing service for the U.K. business.

SEI will now move toward automated order processing for transactions across its retail fund range and strategic portfolios, aiming for faster turnaround times for order confirmations and contract notes which in turn help SEI and client counterparties to reduce processing time and operational risk. Calastone’s system routes and translates messages from all parties in the process into the preferred format as determined by SEI.

In addition, SEI will be able to follow each order through the entire life cycle of the trade, using Calastone’s Execution Management Systems (EMS), which also has the ability to flag any potential restrictions.

Paul Jacobs, U.K. sales director at Calastone, said: “We are looking forward to working with SEI to help improve efficiencies and mitigate operational risk during their order routing activity. We hope the industry continues to recognise the clear benefits of moving away from manual processes.”