Using the straight-through-processing approach of Calastone’s new version of Execution Management System (EMS), Deutsche Bank Private Wealth Management UK will be able to import orders and send them to the market with minimal technical input.
Calastone claimed that the approach would eliminate the manual order entry processing, reduce risk by automating business flow processing, offer real time visibility of order acceptances and/or rejections and provide real time pricing information.
Moreover, Calastone provides a universal communication and message translation service that normalizes any message format to its ISO 20022, irrespective of a firm’s preferred messaging protocol.
Ken Tregidgo, business development director of Calastone, said: “We are pleased to see Deutsche Bank Private Wealth Management UK using the EMS to offer its clients lower costs, increased global reach and improved STP. Clients using EMS can manage the full lifecycle of the trade from account opening through to settlement. Over the coming months Calastone will be delivering additional functionality within EMS to handle re-registration and daily valuations.”
Martin Waters, head of product and transaction services at Deutsche Bank Private Wealth Management UK, said: “We strive to offer investment services that deliver proprietary and open architecture solutions of outstanding quality and believe our clients will benefit from improved service delivery by adopting initiatives such as the Calastone order transmission engine. By providing greater execution certainty, increasing automation and control we are able to reduce our risk throughout the mutual fund order management lifecycle.”
