Aberdeen Unit Trust Managers, a UK-based independent asset manager, has signed an agreement to connect to Calastone’s global network to benefit from the firm’s order routing and settlement services.

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.

Fund providers will be able to benefit from fully electronic STP throughout the transaction lifecycle, whatever the preferred messaging protocol or format and benefit from business process automation.

Calastone said that the settlement service will enable Aberdeen’s clients to benefit from Calastone’s STP approach, which eliminates the need for manual processing and reduces risk by automating business flow processing, from orders through to settlement.

Alexander Hofmann, sales director of Calastone, said: “We are committed to providing a multi-domicile infrastructure from order routing through to settlement and to ensuring that we help all our participants benefit from significant financial and operational efficiencies.”

Tim Archer, head of operations at Redmayne-Bentley and Co-chair of the APCIMS Operations, said: “We completely support straight through processing and applaud Calastone for providing a service that is working towards full lifecycle automation which will ultimately benefit the end investor.”