Ruffer, Capita and Calastone launch notification service
Ruffer, a UK asset manager, together with Capital Financial Group and fund transaction network Calastone have jointly launched an automated trade notification service.
The service enables notification to be automatically generated from each executed trade and routed to the relevant global custodian.
Calastone said it was an example of its efforts to improve and facilitate post-trade activities. It added that the service had been designed to leverage existing practices and worflow processes of fund managers and their custodians.
Ruffer, its adminstrator Capita and a global custodian have been involved in the development of the service, which Calastone said would increase efficiencies in the industry.
“Automating such processes also serves to reduce the risks associated with more manual methods of communication between fund managers and their custodians, particularly as it is likely that each fund manager will have a number of custodian relationships,” Calastone said.
Phil Goffin, executive director of UK Sales at Calastone, added: “The addition of the trade notification service to the Calastone portfolio brings us closer to our goal of becoming a whole of market solution for the funds industry and we are pleased to assist such valued partners as Ruffer and Capita in their goals of reducing risk, cost and increasing efficiencies.”