Aberdeen Australia Increases Fund Order Automation To 50% With Calastone
The Australian arm of Aberdeen Asset Management has increased automation levels for fund applications and redemptions from 20% to 50% since adopting the order routing service of Calastone, a provider of electronic order routing between fund buyers and fund providers, at the end of 2011.
Aberdeen connected to Calastone through its transfer agent, Royal Bank of Canada (RBC) Investor Services. The Calastone Transaction Network converts orders sent by fund platforms into the format of RBC's choice
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