Calastone passes 10,000 trading links on network
The Calastone Transaction Network, which facilitates automation of transaction processing – such as trading betweeen fund managers and distributors – has claimed it now has over 10,000 trading links globally.
These links are currently in place across 29 countries and territories. This has taken the firm well beyond its original UK roots. As more links are added the total number of links increases geometrically, as the definition of links implies that each additional company added to the network represents multiple additional links, a spokesperson suggested.
Recently, Calastone announced the first trades using its network were processed between New Zealand and Australia.
The technology provider says that as the mutual fund industry grows globally, the necessity to adopt increasing automation also rises, as participants seek efficiencies. Calastone’s technology is focused on facilitating trading partners to communicate regardless of the messaging format used or the technology protocols for connecting.