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GLG Partners has signed up to Calastone to enable clients to transact its mutual fund products over Calastone, the independent cross-border transaction network for the mutual funds industry.
Calastone is the venue where the global mutual fund industry can meet to transact mutual fund orders, irrespective of their size, geographic location, preferred messaging protocol, standard or technology.
Whatever the preferred format of a participant, Calastone`s transaction network `normalises` all messages to Calastone ISO 20022, enabling the industry to become fully automated throughout the trading lifecycle. Participants reap the benefits that straight through processing can bring specifically reduced costs, reduced risks and greater control using Calastone`s Execution Management System (EMS).
"Keenly aware of the impact that trading efficiency and cost management can have on fund performance in the securities markets, we applaud GLG for being the first manager of this type to sign up and take advantage of the benefits access to Calastone`s fast growing global community can offer," comments Kevin Lee, managing director of Calastone.
"We have been impressed not only with the speed in which Calastone is signing up participants, but also its commitment to making the movement of funds in the mutual fund market more efficient," says a spokesperson at GLG Partners. *