Australian investment platform and funds service provider OneVue has joined the Calastone transaction network with a view to streamlining its services and improving efficiency, while reducing risk and costs.
The network allows automation of funds transfers in both domestic and cross-border transactions, and is currently used by more than 560 customers throughout 19 domiciles.
The OneVue Group is no stranger to automation. It helped to build the foundation for the Australian Stock Exchange mFund Settlement Service, a method of buying and selling units of managed funds using an electronic settlement system.
But the group can now automate its own transaction, which were once communicated by fax.
COO of OneVue, Lisa McCallum, said: “By using Calastone we can offer a fully integrated service that will boost our fund managers’ wholesale distribution capabilities.”
According to Shannon Bernasconi, Calastone’s managing director for Australia, the whole of the Aussie market is experiencing a change in dynamic.
She said: “The growth of flows has been steady over the past 18 months, with inflows in September reaching 1000 orders per day. We’re delighted to work with OneVue in the unit registry space to open automated channels to a larger sector of the platform and fund manager space.”
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