UK-based SVM Asset Management has selected Calastone to manage its order routing service and to offer its electronic, interoperable re-registration solution.
The partnership with Calastone will enable SVM to reduce the complexity and number of links in the funds processing chain for greater operational and cost efficiency, and enhanced risk management.
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In addition, Calastone’s execution management system (EMS), a web-enabled user interface offering access to the network, will allow SVM to monitor and manage transactions in real-time.
SVM has chosen Calastone to supply an automated re-registration solution.
Calastone said that its straight through processing (STP) solution, which is developed in collaboration with Calastone User Group members, will facilitate the transfer of legal title in fund units between nominees in addition to allowing the market to move towards same day re-registration.
Dan Llewellyn, managing director of UK sales for Calastone, said: "We are delighted to welcome SVM Asset Management to our ever-growing list of fund managers enrolled for electronic dealing and automated re-registration, via Calastone. We are committed to encouraging greater levels of operational efficiency throughout the UK domestic and cross-border mutual funds market, so that clients like SVM can realise a number of substantial benefits through automation of such services."
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By GlobalDataMark Noble, head of sales and marketing of SVM Asset Management, said: "Providing an automated solution enables greater efficiencies in fund dealing. At a time when all market participants are looking at ways to streamline their processes and enhance risk management Calastone’s automated service provides a more efficient standardised process, which will ultimately improve the service to our clients."
