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Calastone connects to Shenzhen Securities Communications

First Published 29th September 2016

Calastone strengthens China-Hong Kong market link by enabling direct connectivity with Shenzhen Securities Communications.

Hong Kong and London - Calastone, the fund transaction network, has established a direct connectivity with Shenzhen Securities Communications, a fully-owned subsidiary of the Shenzhen Stock Exchange.

Calastone is the first financial technology firm tto offer direct SSCC connectivity to financial institutions in Hong Kong participating in the China-Hong Kong Mutual Recognition of Funds (MRF) program, including fund managers, distributors, custodians and fund administrators.

Commenting on the partnership, Sebastien Chaker, Head of Asia for Calastone, said: "Clients will be able to use their existing network connection to Calastone to submit and receive fund orders to and from China under the MRF program. Calastone will take care of any formatting requirements and submit orders directly to the SSCC, eliminating the need to conform to different messaging and connectivity standards."