Lombard Odier launches funds on Calastone’s network
Lombard Odier Investment Managers (LOIM) has gone live with Calastone’s order routing service for its Luxembourg Sicav range of funds.
Calastone provides a global transaction platform that automates fund transactions between distributors and fund providers.
By standardizing and streamlining the order process, this service will help clients – including IFAs, distributors, fund platforms, and wealth managers – to buy LOIM funds electronically, via any messaging format and over any technical connection, Lombard Odier said.
Calastone’s network includes more than 90% of UK intermediaries and fund platforms, as well as hundreds of other distributors around the world, the LOIM report also highlighted.
“This is a milestone for our UK distribution business and will help us meet the demand we have been experiencing for our investment strategies from investors and intermediaries,” said Dominick Peasley (pictured), head of Third-Party Distribution (UK and Nordics) at LOIM.
“Distributors will now be able to transact LOIM funds more easily, through an electronic connection that reduces risk, speeds up processing time and reduces transaction costs”.
“Bringing Lombard Odier on board to the network gives a significant boost to the number of Sicavs whose order messages are transmitted via the Calastone Transaction Network (CTN),” said Peter Hermans, director European Sales and Business Development at Calastone.
“Not only does Lombard Odier benefit hugely from providing an alternative straight-through processing solution for order routing – both from a cost perspective and also in reducing operational risk – it also provides them with additional opportunities to promote their funds to distributors and markets that are not connected to the standard networks, but are instead using an alternative connection such as Calastone.”
LOIM’s Geneva-headquartered business, a unit of Lombard Odier & Cie, managed $43bn on behalf of clients at the end of June 2013.