Calastone said that Parmenion will also benefit from automated net settlement services through trade order-matching and will reap the advantages of its streamlined approach to the reconciliations data reporting process.
Calastone’s reconciliations services will enable Parmenion to address the challenges associated with the delivery of non-standardized formatting of data.
Calastone normalizes, translates and standardizes all messages received into the network and its EMS (Execution Management System) will give Parmenion visibility and control over their fund trading from deal placement through to settlement.
Parmenion operations manager David Tanner said Parmenion look forward to the operational benefits that connectivity to Calastone’s automated services will bring and wholeheartedly welcome industry change and adoption of more efficient alternatives.
“Their services will aid our automation and will work in line with our current efficiencies,” Tanner said.
