JHC, which supplies the FIGARO trading, asset management and settlement platform, has connected to the Calastone Network for order routing and reconciliations. The services have been fully integrated into FIGARO, so JHCs clients will be able to trade funds and reconcile their positions on a daily basis.
On the Calastone network, the global fund industry can meet to send and receive fund order messages, irrespective of their size, geographic location, preferred messaging protocol or technology. The transaction network standardizes all messages to the Calastone ISO 20022 format, enabling the industry to become fully automated throughout the trading lifecycle.
FIGARO is a truly market-leading solution, which allows our clients to remain competitive in their market and protect their investment in technology, says Peter Murphy, head of FIGARO product development at JHC. FIGARO is a fully integrated STP solution and is unrivalled in its depth and richness of functionality and process automation. Leading stock broking and wealth management firms deploy FIGARO as their core integrated front to back solution for equity and funds trading. By joining the Calastone network, we are enabling full automation which reduces risk and cost for our clients, as well as speeding up the transaction process.
Custodian Cofunds is one client using FIGARO to enable fully automated straight-through processing.
We are delighted to complete our project with JHC so easily and in such a short space of time, says Dan Llewellyn, Managing Director of European Business Development at Calastone. Calastone is a demand-driven organization, and we have been asked by numerous clients to connect to JHC. We look forward to welcoming all FIGARO users onto Calastone over the next few months. In particular, we anticipate significant demand for the daily reconciliations service which can provide group 1 and group 2 splits as well as daily transaction reporting.
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