Heartwood selects Calastone’s automated cross-border transaction network
First Published Tuesday, 6th July 2010 from Automated Trader : EMS News
Heartwood Wealth Management connects to Calastone’s cross-border transaction network
Heartwood Wealth Management has connected to Calastone's cross-border transaction network. Calastone offers electronic order routing between fund buyers, fund distributors and fund managers whatever their preferred format and provides automated net settlement services through trade order matching. Calastone's Execution Management System (EMS) provides a consolidated view of all order flow at all stages of the trade lifecycle offering full reconciliations functionality.
Commenting on the announcement, Alexander Hofmann, Head of Sales of Calastone said, "We are delighted that Heartwood is now able to take advantage of the unique benefits which Calastone offers the distribution community. Heartwood was able to leverage their existing fund order processes to move from contract signature to live trading in under one month. Calastone offers unrivalled access to the onshore and offshore fund community and our indemnified delivery process means that Heartwood can now use one connection to route orders to multiple TAs and fund managers at zero cost and risk."
Paul Roberts, Associate Director - Dealing and Settlements at Heartwood added, "We are continually looking for ways to improve order flow processing for our fund transaction processing. Calastone's ability to connect the entire funds market without having to invest in costly technology infrastructure not only brings us cost efficiencies but also increases STP levels significantly. We have been impressed with the ease of connecting to Calastone's single pipe and with the testing and implementation environment provided by the Calastone team."