London
24 February 2016
Reporter: Stephanie Palmer
Calastone releases Data Services
Calastone has launched a new global fund distribution solution that collates transaction data across the global distribution chain.

The solution is intended to provide data managers with a more transparent view of their global fund distribution, supporting them in meeting regulatory obligations under the likes of the Markets in Financial Instruments Directive (MiFID) II.

Under MiFID II, the responsibility for providing transparent information on fund distribution will shift from fund distributors and platform providers to fund managers.

Those fund managers will have to provide full transparency as to where their funds are being sold—something they have not historically had the ability, or the need, to do.

Data Services collates transaction data across the global distribution chain, creating a detailed and accurate view of the market for individual firms, and improving understanding of the full range of distribution.

Rob Swan, managing director of Data Services, said: “Many fund management firms are not prepared for the scope and volume of work required to simply achieve look-through of their product distribution, a task that involves the consolidation of data across thousands of administrators, distributors and advisors.”

“We anticipate that aspects of the upcoming MiFID II regulation will require fund managers to add a market overlay to monitor the full distribution chain effectively. The scale of this task should not be underestimated. The recent one-year delay of the regulation must not be seen as an opportunity to defer the project, but rather as time to ensure compliance with their regulatory obligations.”

Jon Willis, chief commercial officer of Calastone, said: “Calastone’s heritage has been founded in supporting the funds industry by driving greater efficiency through automation. As with all our developments and initiatives, we work closely with the industry to identify ways to help them address their challenges and have been delighted with the early interest in our Data Services solution.”

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
BNP Paribas: ESG investment seeing increased interest
25 May 2017 | London | Reporter: Stephanie Palmer
The survey report noted that 77 percent of asset owners already incorporate ESG aspects into their strategies
Nasdaq to support Chilean CSD in post-trade tech
25 May 2017 | Santiago | Reporter: Stephanie Palmer
Based on the Nasdaq Financial Framework the solution will replace Depósito Central de Valores’s existing core system
Funds need to keep an eye on BEPS negotiations
24 May 2017 | London | Reporter: Becky Butcher
Fund participants were encouraged at Guernsey’s Fund Forum to pay close attention to negotiations over base erosion and profit sharing (BEPS) rules
Northern Trust expands UAE operations
24 May 2017 | Abu Dhabi | Reporter: Stephanie Palmer
Northern Trust has opened a new branch office in Abu Dhabi, as part of a continuing focus on business in the UAE
R3 raises record funds for DLT development
24 May 2017 | London | Reporter: Stephanie Palmer
The R3 group has raised $107 million in two tranches of fundraising, securing the largest ever investment in distributed ledger technology to date
Promotions abound at Interstrust in Jersey
24 May 2017 | Jersey | Reporter: Stephanie Palmer
Intertrust in Jersey has made a spate of promotions, including elevating Sherin Sugeeswaran to the role of associate director in the fund services team
RSRCHXchange boosts research offering with data consumption partnership
23 May 2017 | London | Reporter: Stephanie Palmer
Institutional research marketplace RSRCHXchange has partnered with corporate access management solution provider CorpAxe in order to make research consumption data available to the buy side
More news