SVM Asset Management (SVM), the boutique investment company specialising in UK, European and Global equities, has chosen Calastone, the global fund transaction network, to manage its order routing service and also to provide its electronic, interoperable re-registration solution.
Calastone's provision of an order routing service for SVM will reduce the complexity and number of links in the funds processing chain, resulting in greater operational and cost efficiency, and enhanced risk management for SVM. The Calastone Execution Management System (EMS), a web-enabled user interface providing access to the network, will help SVM monitor and manage transactions in real-time.
Calastone has also been selected by SVM to supply an automated re-registration solution. FCA regulation has seen a market shift towards a preference for automated re-registration solutions. Calastone's straight through processing (STP) offering has enabled the market to move towards same day re-registration.
This service, based on the requirements of a wide range of market participants and developed in collaboration with Calastone User Group members, facilitates the transfer of legal title in fund units between nominees. This allows for STP 'in specie' transfer of assets and provides full visibility to all parties during the lifecycle of the transfers.
Dan Llewellyn, Managing Director of UK Sales for Calastone, said: "We are delighted to welcome SVM Asset Management to our ever-growing list of fund managers enrolled for electronic dealing and automated re-registration, via Calastone. We are committed to encouraging greater levels of operational efficiency throughout the UK domestic and cross-border mutual funds market, so that clients like SVM can realise a number of substantial benefits through automation of such services."
Mark Noble, Head of Sales and Marketing of SVM Asset Management, said: "Providing an automated solution enables greater efficiencies in fund dealing. At a time when all market participants are looking at ways to streamline their processes and enhance risk management Calastone's automated service provides a more efficient standardised process, which will ultimately improve the service to our clients."