State Street Taps Calastone for Order Routing Service

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State Street Global Advisors is the asset management business of Boston-based State Street Corporation.

State Street Global Advisors (SSgA) went live on the Calastone order routing service for its range of UK- and Luxembourg-domiciled funds.

Via the Calastone network, SSgA will be able to offer its investment management clients straight-through processing (STP) and real-time order management.

The automated solution will also help SSgA reduce risk and cost by removing the need for manual intervention throughout the trade lifecycle.

"SSgA looks forward to partnering with Calastone as part of our commitment to helping financial intermediaries meet the constantly evolving needs of their investors," says Eleanor Hope-Bell, head of intermediary business group UK at SSgA. "This automated solution will improve the efficiency of our offering to intermediaries as we continue to enhance our coverage of the intermediary market across Europe."

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