Schroder Investment Management has implemented a Swift ISO15022 compliant connection for fund processing via Clearstream's Vestima straight-through processing solution.
Schroders will connect to Clearstream Banking and Vestima via the interbank Swift network. Vestima automates fund order processing to eliminate manual intervention and reduce costs. Clearstream has integrated the software with its real-time clearing, settlement and custody platform, Creation.
Gary Janaway, head of dealing, Schroder Investment Management (Luxembourg), says: "Our volumes of business have been growing steadily and having used Vestima's Web browser successfully for over a year, it made sense to migrate to ISO15022 and the Swift network. This will enable us to handle a large and expanding number of transactions whilst minimalising operational and administrative risk."