Geneva based Lombard Odier Investment Managers (LOIM), has selected London based Calastone as a global transaction platform for the sale of its Luxembourg-domiciled Sicav range of funds.
Calastone provides a global transaction platform that automates fund transactions between distributors and fund providers.
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The company said Calastone’s network included more than 90% of UK intermediaries and fund platforms, so by choosing it the LOIM process for investing in funds has become standardised and streamlined.
Lombard Odier said this service will help clients including IFAs, distributors, fund platforms, and wealth managers to buy LOIM funds electronically, across Calastone’s global network, via any messaging format and over any technical connection.
Dominick Peasley, head of Third-Party Distribution (UK and Nordics) at LOIM, said: "This is a milestone for our UK distribution business and will help us meet the demand we have been experiencing for our investment strategies from investors and intermediaries."
"Distributors will now be able to transact LOIM funds more easily, through an electronic connection that reduces risk, speeds up processing time and reduces transaction costs," Peasley added.
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By GlobalDataPeter Hermans, director European Sales and Business Development at Calastone, said:"Bringing Lombard Odier on board to the network gives a significant boost to the number of Sicavs whose order messages are transmitted via the Calastone Transaction Network (CTN).
"Not only does Lombard Odier benefit hugely from providing an alternative straight-through processing solution for order routing – both from a cost perspective and also in reducing operational risk – it also provides them with additional opportunities to promote their funds to distributors and markets that are not connected to the standard networks, but are instead using an alternative connection such as Calastone," Hermans added.
LOIM has managed $43 billion for clients at the end of June 2013.
