Heartwood Wealth Management, a UK-based wealth management and investment management firm, has selected Calastone’s independent cross-border transaction network to gain automated dealing efficiencies.
Calastone’s Execution Management System (EMS) provides a consolidated view of all order flow at all stages of the trade lifecycle offering full reconciliations functionality. Calastone’s EMS enables participants to react to exceptions quickly and efficiently offering settlement risk reduction and enhances a firms offering to its end clients.
According to the Calastone, Heartwood can connect to the Calastone Transaction Network (CTN) directly using their existing technology enabling transactions to be processed using ISO 20022 message standards irrespective of how they are submitted. One of the counterparties to take advantage of receiving automated orders direct from Heartwood will be Capita Financial Group in their capacity as authorised corporate director and fund administrator.
Paul Roberts, associate director of dealing and settlements at Heartwood, said: “Calastone’s ability to connect the entire funds market without having to invest in costly technology infrastructure not only brings us cost efficiencies but also increases STP levels significantly.”