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Standard Life Investments deploys Calastone’s settlement service

BBR Staff Writer Published 24 November 2017

Global fund transaction network Calastone’ automated funds settlement solution has been deployed by Standard Life Investments (SLI).

Before Aberdeen Asset Management’s £11bn merger with Standard Life, Aberdeen Unit Trust Managers (AUTM) has already deployed Calastone’s settlement service.

Standard Life Investments also gets assistance from fully automated and electronic straight through processing (STP), after adoption of the solution.

Aberdeen Standard Investments, which is encompassing both AUTM and SLI, is adopting Calastone settlement service to extend the coverage of the solution.

The operational challenges of managing post trade reconciliation continue to increase as trading volume grow.

Additional expenses will be incurred in settlement due to the financial provisions needed to cover all settlement payment flows, tying up operating capital and reducing liquidity

Clients can solve all these challenges with the support of Calastone’s net settlement solution.

Calastone Settlements is claimed to be only commercial settlement system developed specifically for the funds industry.

The solution will automatically correspond trades and calculates the net settlement position between each trading counterparty.

Settlement payments are automated and transacted net, helping to save liquidity significantly.

Aberdeen Standard Investments operations director Mike Tumilty said: “Aberdeen Standard Investments are committed to leveraging technology to improve process, product and client experience.”

Calastone chief commercial officer Jon Willis said: “Calastone Settlements addresses several issues that our clients face, and enables significant liquidity improvements through the automated matching and netting of trades.”

Image: Standard Life Investments has deployed Calastone’ automated funds settlement solution. Photo: courtesy of twobee / FreeDigitalPhotos.net.