Redmayne-Bentley has connected to Calastone’s independent cross-border transaction network. Calastone offers electronic order routing between fund buyers and fund managers whatever their preferred format and provides automated net settlement services through trade order matching.

Signing up to Calastone’s order routing and settlement service will enable Redmayne-Bentley to benefit from Calastone’s straight-through-processing approach. The connection will not only provide access to the Cofunds platform, but will also provide access to fund managers not available on the Cofunds platform all through the Calastone Execution Management System. This approach removes any need for manual order entry processing and reduces risk by automating business flow processing, in addition to providing real-time visibility of order acceptances and/or rejections and pricing information.

The Execution Management System provides a consolidated view of all order flow at any stage of the lifecycle, from order through to settlement as well as the facility to receive reconciliation data in any format a participant prefers.

Commenting on the announcement, Alexander Hofmann, Sales Director of Calastone said, “We are delighted to see yet another distributor recognise the benefits of connecting to our messaging network and settlement service.”