Fidelity joins Calastone network
Fidelity Worldwide Investment is the latest company to join Calastone's global transaction network.
Calastone announced Fidelity's inclusion this week at the same time as flagging it would be expanding its Australian network to cover wealth software platforms and self-managed superannuation funds "in the near term".
The Calastone network allows participants such as Fidelity to automate flows from platforms and custodians into Fidelity's Australian fund range.
Commenting on the move, Fidelity's head of operations and client services, Doug Bryden, said the company welcomed the automation of what had been a manual process, the reduced risks and the increased levels of accuracy and timeliness it brought.
Calastone's Australian managing director, Shannon Sweeney, said the company was already a gateway in Superannuation Superstream automation and was working to develop and broaden its network.
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