SLI goes live on Calastone’s settlement service 23 November 2017London Reporter: Jenna Lomax
Image: Shutterstock
Standard Life Investments (SLI) is now live on Calastone’s automated funds settlement solution.
Standard Life was added to the solution following its £11 billion merger with Aberdeen Asset Management, which was completed in March this year.
Aberdeen Standard Investments, encompasses both SLI and Aberdeen Unit Trust Managers Limited, which was added in August. By adding SLI to its solution, Aberdeen Standard Investments has “significantly” extended its coverage of the solution.
The solution automatically matches trades and calculates the net settlement position between each trading counterparty. Settlement payments are automated and transacted net, resulting in liquidity savings.
Jon Willis, CCO at Calastone, commented: “We’re thrilled to welcome Standard Life Investments on to our settlements solution. Reducing the frictional cost of trading mutual funds, and lowering the total cost of ownership is becoming more important as the funds world develops and expands.”
Mike Tumilty, director of operations at Aberdeen Standard Investments, said: “With Calastone Settlements we recognise that further efficiencies can be realised by taking advantage of this automated net settlement solution, which has already been deployed in other parts of our organisation.”
NO FEE, NO RISK 100% ON RETURNSIf you invest in only one asset servicing news source this
year, make sure it is your free subscription to Asset Servicing Times
Image: Shutterstock 