Aviva Investors the global asset management business of the insurer, dedicated to building and providing its clients with focused investment solutions has today signed an agreement to use Calastone's settlement and matching service.
Calastone offers electronic order routing between fund buyers and fund managers whatever their preferred format and provides automated net settlement services through trade order matching.
Signing up to Calastone's settlement service will enable Aviva Investors' clients to benefit from Calastone's straight-through-processing approach. This approach removes any need for manual processing and reduces risk by automating business flow processing, from orders through to settlement.
Commenting on the announcement, Alexander Hofmann, Sales Director of Calastone said, "We are delighted to see yet another fund manager sign up to Calastone's settlement service."
Commenting on the agreement, John Clougherty, Chief Executive of Aviva Investors UK Fund Services Limited said: "At Aviva Investors we are committed to providing our clients with focused investment solutions and the latest Calastone offering of automated messaging settlement provides us with an automated solution that benefits everyone in the fund buying process."
Christopher James, Director Institutional Services at Cofunds commented,"As an early supporter of the Calastone settlement solution we are delighted to see more fund groups connecting, getting ever closer to 100% straight-through-processing throughout the transaction lifecycle. Working with Calastone is good for our clients and good for the funds industry."