Sydney
30 July 2013
Reporter: Georgina Lavers
Securities Lending default image

Fidelity Australia joins up to Calastone


Fidelity Worldwide Investment has joined Calastone’s Global Funds Transaction Network in Australia.

Calastone went live in Australia in November 2011 with automation of fund application and redemption transactions.

Fidelity’s head of operations and client services, Doug Bryden said: “Fidelity welcomes the automation of this manual process, the reduced risks and the increased levels of accuracy and timeliness it brings. Our adviser clients value accuracy and speedier turnarounds of transactions which Calastone enables by reducing the manual processing in an automated environment.”

Calastone Australia managing director, Shannon Sweeney, said that the industry had long recognised the risks involved in manual processing.

“There is a genuine interest and engagement to remove these risks and issues,” she said. “These manual risky processes can result in inaccuracy in both the registry system of the fund and the platform, can result in missing or are incomplete transactions, and make the client experience slower and less transparent.”

Calastone will expand its Australian network to cover wealth software platforms and self-managed super funds in the near future

More news
The latest news from Asset Servicing Times
Join Our Newsletter

Sign up today and never
miss the latest news or an issue again

Subscribe now
Murex to run MX.3 platform on AWS cloud
13 December 2017 | Paris | Reporter: Becky Butcher
Murex has collaborated with Amazon Web Services to allow its clients to deploy, test and optimise its MX.3 platform on the cloud
Northern Trust appoints Edwin Chan
13 December 2017 | London | Reporter: Becky Butcher
Edwin Chan has joined Northern Trust to head up sales across the alternatives fund sector in Europe, the Middle East and Africa
Firms remain open to exposures from manual processes
13 December 2017 | New York | Reporter: Becky Butcher
Only 2 percent of capital markets companies have a fully automated compliance support programme, leaving firms open to risk from manual processes, according to a survey by Aite Group and Cordium
Oslo Connect receives regulatory upgrade
12 December 2017 | Stockholm | Reporter: Becky Butcher
Baymarkets Technology is to upgrade Oslo Børs’s OTC system, Oslo Connect, to support regulatory demands such as those under the second Markets in Financial Instruments Directive (MiFID II)
Italian custody win for BNP Paribas
12 December 2017 | Milan | Reporter: Jenna Lomax
BNP Paribas will provide Sara Assicurazioni with global custody services for €1.3 billion in Italian and foreign assets
Fundsquare and i-Hub bring KYC service to funds
12 December 2017 | Luxembourg | Reporter: Becky Butcher
Fundsquare and i-Hub have signed a commercial partnership for the introduction of i-Hub’s know-your-customer (KYC) platform to the funds industry
Zedra hires Lisa Tan
12 December 2017 | Singapore | Reporter: Becky Butcher
Zedra has appointed Lisa Tan as head of corporate services, based in the firm’s Singapore office
More news