London
23 April 2012
Reporter: Ben Wilkie
Securities Lending default image

Brown Advisory goes live with Calastone


Brown Advisory has signed up to Calastone's order routing service for its range of US Equity Funds domiciled in Dublin.

Calastone is the only venue where the global fund industry can meet to send and receive fund order messages, irrespective of their size, geographic location, preferred messaging protocol or technology. Whatever the preferred communication method of each participant, Calastone’s transaction network standardises all messages to the Calastone ISO 20022 format, enabling the industry to become fully automated throughout the trading lifecycle.

Joining the network is simple and does not require additional costly technology. Single point of entry to the market via Calastone is seamless and industry developments, such as the movement away from ISO 15022 messaging to the ISO 20022 standard, are easily accommodated by the network, regardless of incumbent infrastructures.

Brown Advisory, an independent investment management firm headquartered in Baltimore, with approximately $29 billion in client assets, launched its UCITS fund structure in 2006 and opened an office in London in 2008. Brown Advisory now manages over $1.4 billion across its five Dublin-domiciled US Equity Funds. Many of its UK-based clients, including multi-managers, wealth managers and family offices, will benefit from this collaboration with Calastone.

Logie Fitzwilliams, partner and head of international business development at Brown Advisory, said: “We are pleased to be able to offer Calastone’s transaction network to our clients which is an important transaction development which will improve efficiency and reduce costs for them.”

Dan Llewellyn, managing director of European business development at Calastone, said: “We are delighted to welcome Brown Advisory to our growing list of investment firms enrolled for electronic dealing. They are now well placed to offer their client base an easy and flexible solution for the automation of transactions.”

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