SEI picks Calastone for order routing service in UK
Fund services provider SEI has picked Calastone to supply its order routing service for the UK market.
SEI manages or administers $495bn of assets globally across pooled and separately managed accounts. It is moving towards automated order processing for transactions across its retail fund range and goals-based Strategic Portfolios.
SEI said the change should lead to faster turnaround times for order confirmations and contract notes. This also leads to reduced operational risk.
Andrea Hohlachoff, head of Asset Management Solutions at SEI, said Calastone had been chosen because its solution enabled more electronic orderflow with clients.
“We very much look forward to expanding the use of the order routing service and enabling more of our clients to benefit from the system,” Hohlachoff said.
Calastone’s solution also enables real time tracking of trades via a web-based use interface.