One of Australia's largest wrap platforms, BT Wrap is using Calastone to send orders to the market, automating a traditionally manual process. The project had been under a proof of concept and has now entered a commercial arrangement.

Calastone MD, Shannon Sweeney, said Calastone offered efficiencies that flow right through the investment chain.

"Calastone offers the benefits of automation in reducing risk, improved accuracy and a reduction in trading turnaround times," she said. "These all add up to a better experience for customers. Ultimately though, the biggest success will come from increased uptake across the managed funds industry as more players in the value chain pursue automation.".

Shannon said there was opportunity for the automation of many other processes within managed funds and superannuation firms. As Calastone just reaches its second anniversary in Australia, the industry has now passed tipping point.

"The Australian managed fund and super industry has huge opportunities for greater efficiency across the end to end lifecycle of managed funds processing," she said. "With more than half of Australian managed funds now having access to Calastone's network, we have gathered meaningful momentum that will drive the majority of market on to automation within the next two years."

Having launched in the UK in 2008, Calastone specialises in automating manual processes for the managed fund and super industries. Calastone Australia Managing Director, Shannon Sweeney, says the Australian industry is undergoing a fundamental shift in the way business is done.