Luxembourg-headquartered fund services company IFSAM has joined Calastone's global fund transaction network for Swift connectivity to the market.
Calastone will enable IFSAM to send and receive ISO 20022 and ISO 15022 messages to and from the market, without the need for a point-to-point connection.
"As a niche player supplying value added services to our European client base, by using Calastone we immediately become ISO 20022 compliant and don't need to spend time and effort supporting point to point connections or converting existing protocols," says Luc Duarte, partner at IFSAM. "This allows our firm to concentrate on servicing our clients by increasing substantially our STP rate to the market. Regardless of our counterparties connectivity or message standard our connection to Calastone enables us to automate the trade transaction life cycle."
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