Calastone Limited, the independent cross-border transaction network for the mutual funds industry, announced today that fund provider Thames River Multi-Capital LLP (Thames River Capital) has signed an agreement to offer its multi manager funds via Calastone.
By connecting to Calastone's transaction network, Thames River Capital will benefit from fully electronic STP throughout the transaction lifecycle, whatever their preferred messaging protocol. They will gain electronic connectivity to fund distributors and aggregators through a single connection and orders will be sent electronically via Calastone, which provides a universal message communication and 'translation' service. By connecting to Calastone, fund providers are able to lower costs, reduce the risk of trading, and gain visibility and control of their order flow. Through Calastone, all parties will be able to react to exceptions quickly and efficiently.
Commenting on the agreement, Kevin Lee, Managing Director of Calastone said, "We are delighted that Thames River will be making their funds available via Calastone. Without any investment in membership fees or new technology, Thames River is now able to manage transactions on a real-time basis using our Execution Management System. As Calastone continues to expand, Thames River will benefit by receiving orders electronically from an increasing number of fund distributors and aggregators globally, many of whom are using SWIFT messaging via Calastone."
Jeremy Charles, Chief Operating Officer of Thames River Capital, added, "We are pleased to offer our funds via Calastone and we look forward to the operational efficiencies that Calastone can bring to our business. We believe that Calastone's model will continue to be used by a wide range of fund distributors and transfer agents".