Pendal Group joins Calastone for automated fund order processing
Calastone, the largest global funds network, has deepened its connectivity with independent global investment manager Pendal Group to provide automated processing of fund orders via its Order Routing solution.
Pendal Group, which manages $101.7 billion for investors is now live on Order Routing and Transfers which will automate fund order flow through one centralised and interoperable network.
Calastone’s Order Routing solution processes and confirms trade information compatibly for asset managers, platforms, custodians, and administrators, creating certainty and transparency while removing the cost and risk of manual handling and duplication across the value chain.
This extended connectivity bolsters Calastone’s Australian market coverage for its Order Routing solution to 95% of fund managers.
Commenting on the announcement, Justin Howell said, “Over the past 12 months, we’ve made several enhancements to our operating model to improve the experience for our clients. Throughout this process, Calastone has brought, COO at Pendal Group, valuable insights and expertise to ensure we are maximising the benefits of automation across orders and other operational functions.”
Ross Fox, Managing Director, Head of Australia and New Zealand at Calastone, commented, “It is always extremely rewarding working with fund managers such as Pendal Group who are building an infrastructure designed to improve and grow its business well into the future, open to the benefits and opportunities that automation and digitisation bring.
“Certainly, connecting to 95% of all locally based fund managers for order transaction processing is a tremendous milestone for Calastone and a testament to how our technology has transformed funds distribution in this market. It marks a critical juncture where best-practice technology grows into a market utility, with greater scale and power to solve industry problems and forge new ground for participants and investors,” Mr Fox said.