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Deutsche Bank Private Wealth Management UK connects to Calastone

16 February 2010  |  2412 views  |  0 Source: Calastone

Calastone Limited, the independent cross-border transaction network for the mutual funds industry, announced today that Deutsche Bank Private Wealth Management UK has connected to Calastone, with immediate effect.

Using the latest version of the Calastone Execution Management System (EMS), Deutsche Bank Private Wealth Management UK will benefit from Calastone's straight-through-processing approach enabling them to import orders and send them to the market requiring minimal technical input. This approach removes any need for manual order entry processing and reduces risk by automating business flow processing, in addition to providing real time visibility of order acceptances and/or rejections and offering real time pricing information. Connecting to Calastone offers Deutsche Bank Private Wealth Management UK access to Calastone's fast growing mutual fund community.

Calastone provides a universal communication and message translation service. Irrespective of a firm's preferred messaging protocol, participants send transactions and orders electronically via Calastone's transaction network which normalises any message format to Calastone ISO 20022. As such, participants can benefit from communicating via common standards today, regardless of whether their counterparty uses another messaging protocol or communication method.

Commenting on the agreement, Ken Tregidgo Business Development Director of Calastone said, "We are pleased to see Deutsche Bank Private Wealth Management UK using the EMS to offer its clients lower costs, increased global reach and improved STP. Clients using EMS can manage the full lifecycle of the trade from account opening through to settlement. Over the coming months Calastone will be delivering additional functionality within EMS to handle re-registration and daily valuations."

Martin Waters, Head of Product and Transaction Services at Deutsche Bank Private Wealth Management UK added, "We strive to offer investment services that deliver proprietary and open architecture solutions of outstanding quality and believe our clients will benefit from improved service delivery by adopting initiatives such as the Calastone order transanansmission engine. By providing greater execution certainty, increasing automation and control we are able to reduce our risk throughout the mutual fund order management lifecycle."

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