RARE, the Australian infrastructure investment manager, has selected Calastone’s global transaction network to automate its global funds transactions.
RARE, the Australian infrastructure investment manager has selected Calastone’s global transaction network to automate their global funds transactions.
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Under the partnership, Calastone’s cross border fund service will automate the flow from participating platforms and custodians into RARE’s global fund range registered across Australia, US, Canada, UK, Ireland, Netherlands, Cyprus and Switzerland.
The funds transaction network will enable clients connect to their distributors via its automated messaging service, which provides further efficiency to fund transactions, reducing costs and risk.
Peter Hermans, European sales and business development director at Calastone, said: "This is evidence of Calastone working with clients, initially to enable automation in a domestic market before moving on to a full global service."
Kate Hudson, head of institutional business at RARE UK and Europe, said: "We are already using Calastone for our domestic Australian fund transactions, and are seeing the immediate benefits automation can bring. In the first month of our engagement, almost 300 trades were processed through STP rather than via manual processing.
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By GlobalData"As soon as we could, we extended our relationship with Calastone to automate fund transactions at a global level and reach a wider global distribution base. We are confident this will help our existing and future customers reduce risk and improve efficiency, he added.
