Independent transaction network specialist Calastone has announced a breakthrough development.
The company announced this week that it had signed an agreement to start transacting managed funds for Ausbil Dexia over the Calastone Transaction Network.
Announcing the arrangement, Calastone joint founder Kevin Lee said the move represented a big opportunity for other fund managers, as Ausbil outsources its registry to one of Australia's biggest asset servicing companies.
"Ausbil has shown real leadership in insisting its registry provider connect to Calastone, paving the way for others to follow its lead," he said.
Calastone's execution management system enables buyers and sellers of managed funds to communicate orders electronically by providing a universal message communication and translation service – Calastone Transaction Network. It's a single connection to the global funds market.
