SSgA signs up to use Calastone network for UK, Luxembourg funds
State Street Global Advisors (SSgA) is to use Calastone’s order routing network solution for its range of UK and Luxembourg domiciled funds.
The deal will offer straight through processing for fund dealing, including real time order management for SSgaAs clients.
The automated process will apply regarless whether the funds are located on- or off-shore, and regardless whether they communicate domestically or internationally with counterparties, Calastone said.
Eleanor Hope-Bell, head of Intermediary Business Group (IBG) UK, at SSgA said that the automation “will improve the efficiency of our offering to intermediaries as we continue to enhance our coverage of the intermediary market across Europe”
Marcus Ridge, UK sales director for Calastone, added that the deal further emphasises the company’s presence across Europe as part of the strategy of growing the business globally.