Paris-based investment manager Lyxor Asset Management has signed up to Calastone, to enable its clients to transact electronically at zero cost into its alternative investment fund range , using Calastone's independent cross-border transaction network.
Calastone supports the investment funds industry by providing a transaction network for its fast growing global community of fund providers, distributors, wrap platforms, wealth managers, insurance companies, transfer agents, custodians and hedge funds. Calastone is the only venue where the global fund industry can meet to transact fund orders, irrespective of their size, geographic location, preferred messaging protocol, standard or technology.
Whatever the preferred format of a participant, Calastone's transaction network standardizes all messages to Calastone ISO 20022, enabling the industry to become fully automated throughout the trading lifecycle. Participants can then reap the benefits that straight-through-processing brings, namely, reduced costs, reduced risks and greater control, using Calastone's Execution Management System (EMS).
Gilles Cutaya, Global Head of Client Service at Lyxor Asset Management, said: "In our quest for increased automation and efficiency and to enable our clients to easily trade our hedge funds and Fund of Hedge fund products, Calastone's offering is naturally appealing. We have been impressed not only with the speed in which Calastone is signing up participants, but also its commitment to making fund transactions in the industry more efficient. We will be rolling out this solution to all clients globally who wish to improve their experience when dealing into Lyxor funds".
Sebastien Chaker, Managing Director of Calastone's Luxembourg office, commented: "We are delighted to welcome Lyxor Asset Management, a leading institutional asset manager, to the growing list of cross-border fund managers enrolled for electronic dealing via Calastone. Lyxor Asset Management will now be able to offer their global client base an easy and flexible solution, to automate their transactions into Lyxor fund range fund range, at zero cost."