Calastone Underlines its Commitment to Providing Global Market Coverage With Signing of Danish life and AP Pension

Calastone Underlines its Commitment to Providing Global Market Coverage With Signing of Danish life and AP Pension
16.06.2015 01:00 am

Calastone Underlines its Commitment to Providing Global Market Coverage With Signing of Danish life and AP Pension

Recognising the exponential increase in the automation of transactions within the global funds industry, Denmark-based AP Pension has selected Calastone, the global funds transaction network,to provide its order routing services to underpin its administration platform for cross-border trading.

AP Pension administers approximately DKK 100bn of institutional assets from around 2,000 corporate pension schemes across UCITS funds, separate accounts, internally managed and various alternative investment funds.

Through using Calastone, AP Pension was able to immediately benefit from full visibility of the lifecycle of the order and reduce market risk without requiring any implementation, integration or development costs.

Calastone allows all parties in the process – be it the fund manager, third party administrator or distributor - to use a single line of communication by translating the message into a common form, determined by AP Pension.

Jon Willis, Chief Commercial Officer at Calastone, said: “Smaller distributors, such as AP Pension, traditionally chose to remain on manual processing as they believed the implementation costs far outweighed the benefits of finding an STP order routing solution. This is no longer the case.

“Our EMS portal provides an easy and cost free option for smaller fund managers and distributors. They choose to ’upload’ consolidated orders or, for single trades, use the ‘direct order entry’ option. The latter is becoming increasingly popular where clients have a small number of trades and have previously used a manual process of emailing or faxing the orders.”

Once connected to Calastone, distributors gain access to every fund provider available on the Calastone network without any additional development. 

AP Pension Senior Portfolio Manager, Birgitte Sandberg Jensen, said: “I had a demonstration of the system via Webex and a week later I was sending my trades. I received a complete pack on how to use the system together with a formal testing pack, which I had to complete before I could request to go live. The system is very user-friendly.  I was fully supported by the Calastone Operations team, who then made moving into production exceptionally easy.  I felt comfortable at all times that there was minimum implementation risk due to the strict process and controls Calastone have in place and at every step they were there to guide me and ensure I was completely comfortable.  I was able to pass this knowledge on very easily within my team.”

Related News

A Continuous Journey of Digital Transformation - Alibaba Cloud and Its Global Customers at Apsara 2020

As the digital technology and intelligence backbone of Alibaba Group, Alibaba Cloud is experiencing continuous growth alongside its customers... Read more »

SWIFT Announces a New Strategy for Instant, Frictionless Payments and Securities Processing

SWIFT announces that over the next two years and beyond it will fundamentally transform payments and securities processing, retooling cross-border... Read more »

"Facebook and Twitter need to do more to prevent cryptocurrency scams", says CoinCorner CEO

Online scams are a huge problem in many industries and the emerging Bitcoin space is no exception.

Read more »

Finance Durham Fund Invests £750,000 in Growth Capital Ventures

Finance Durham Fund, which was established by Durham County Council and overseen by Business Durham, has today announced the investment of £750,000 in Growth... Read more »

EBANX and Amazon Announce Partnership in Colombia During the Latin America Summit

EBANX and Amazon announced a partnership in Colombia this Thursday, September 17, 2020, at the chapter one of the... Read more »

Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel