GLG Partners Chooses Calastone To Automate Trade Settlement

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GLG Partners, a global asset management firm, has chosen to automate trade settlement using the service provided by Calastone, an independent cross-border transaction network for the mutual fund industry.

Ian Taylor, CEO of Calastone, says GLG will benefit from a simplified settlement process because his company's service creates a net position with each of the distribution platforms a fund manager trades with. According to Taylor, there will also be cost savings because the service helps client