Australian fund manager Equity Trustees (EQT) has signed up to Calastone's cross-border transaction network for order routing services.
Calastone's Transaction Network provides a universal message communication and translation service to enable orders to be communicated electronically.
"We see significant risk management, cost and efficiency improvements from this approach, which greatly reduces the potential for error in back-office transactions," says EQT head of corporate fiduciary and financial services, Harvey Kalman. "We will be rolling out Calastone's order routing network across our unlisted unit trusts over the next few months as part of an upgrade of our IT systems."
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