With the selection of Calastone technology, SEI will be able to provide automated order processing for transactions across its retail fund range and goals-based strategic portfolios, as reported by Finextra.
The company, which manages or administers $495bn of assets across pooled and separately managed accounts, said that the new platform will boost its turnaround times for order confirmations and contract notes.
Subsequently, SEI and client counterparties can decrease processing time and benefit from a substantial reduction in operational risk.
Calastone UK sales director Paul Jacobs was quoted by the news portal as saying, "We are looking forward to working with SEI to help improve efficiencies and mitigate operational risk during their order routing activity."
Allowing third party administrator, distributor or platform to select their preferred messaging format they wish to communicate, the platform routes the order message, which is translated by Calastone into the preferred format, as determined by SEI.
Leveraging Calastone’s web-enabled graphic user interface, known as execution management systems (EMS), for real-time view of the transaction, the SEI can follow each order throughout the entire lifecycle of the trade.
