Calastone, a UK-based funds transaction network, has introduced a new global market intelligence solution that will offer fund managers detailed insight and transparency into their global fund distribution and help client firms comply with changing regulations.
Dubbed Calastone Data Services, the new solution collates bottom-up transactional data across the global distribution chain to create an accurate look-through at market as well as individual firm levels.
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The company said that the new solution will help cope up with business and regulatory changes such as the MiFID II, which is now shifting responsibility to understand the distribution chain from distributors and platform providers to fund managers.
This will require fund managers to have transparency into where their products are being sold.
Calastone chief commercial officer Jon Willis said: "Calastone’s heritage has been founded in supporting the funds industry by driving greater efficiency through automation. As with all our developments and initiatives, we work closely with the industry to identify ways to help them address their challenges and have been delighted with the early interest in our Data Services solution.
"We welcome all initiatives to create greater transparency across the industry and are proud to play our part in helping our clients benefit from unique insights into their distribution chain that will ultimately lead to operational efficiency."
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