F&C signs up to Calastone network

F&C Investments has selected Calastone’s cross-border transaction network to carry its open architecture range of funds – joining Aviva Investors which signed up yesterday.

Calastone says F&C's community will benefit from connectivity to its rapidly expanding list of global fund distributors and aggregators through a single connection, reaping advantages in cross-border trading access.

It adds the transaction network enables full mutual fund industry interoperability irrespective of a firm's size or location.

"All Calastone's participants enjoy straight through processing regardless of their size or technology capabilities, they are able to track exceptions on a real-time basis, enabling them to react quickly and efficiently."

Head of UK retail at F&C Asset Management John Yule says: "Calastone offers an alternative in mutual fund transactions enabling us to enjoy significant cost savings, increased business process automation and straight through processing efficiency through this relationship."