Calastone Limited, an independent cross-border transaction network for the mutual funds industry, has established connectivity to the SunGard Transaction Network (STN) order routing platform.
Connectivity will offer Calastone's clients automated access to the STN Funds global fund trading network of providers, distributors and aggregators through a single connection.
STN Funds provides access to mutual funds, UCITS and exchange traded funds. By connecting to STN Funds, Calastone's clients are able to transact with STN's established US and European funds trading network in addition to Calastone's growing community of domestic and international fund providers. This connection will help firms gain operational efficiencies and reduce cost and risk by helping to improve interoperability between platforms, intermediaries, stock brokers, wealth managers, fund companies and their TPA's.
Kevin Lee, managing director of Calastone said, "Calastone's objective is to provide easy connectivity and full interoperability to the global funds industry. This link offers increased potential for scale of business opportunities for our clients, all through a single connection to Calastone."
Bob Ward, chief operating officer of SunGard's wealth management business, said, "Automated mutual fund trading combined with expanded access to a broader range of investments through one connection will provide Calastone's clients with the access and efficiencies to transact effectively with the international community. We are pleased to offer Calastone's clients access to our network of global mutual funds."