IOOF signs on to Calastone network

IOOF/australian-market/cent/

29 November 2013
| By Staff |
image
image
expand image

Global transaction network specialist company, Calastone, has announced that IOOF has joined its Global Funds Transaction Network. 

The company announced the arrangement today, stating that it now had seven of Australia's top 10 platform administrators using its network, representing around 60 per cent of the Australian market. 

Commenting on the move, Calastone Australia managing director, Shannon Sweeney said the signing of IOOF represented an important milestone in the automation of the Australian fund industry. 

"IOOF represents another important plank of the automation process in Australia," she said. "In other markets Calastone is the key utility for the industry, connecting funds and platforms so they can communicate efficiently without the need for paper-based processes.

"In Australia we've now passed the tipping point and we see the industry accelerating towards full automation." 

The company will celebrate its two year anniversary in Australia next month. 

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

So we are now underwriting criminal scams?...

1 month 3 weeks ago

Glad to see the back of you Steve. You made financial more expensive, not more affordable as you claim, and presided ...

2 months ago

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

4 months ago

Entireti has unveiled the new name for the AMP financial advice businesses that it acquired last year....

3 weeks 6 days ago

A Sydney financial adviser has been permanently banned from providing any financial services, with the regulator deriding his “lack of integrity, trustworthiness and prof...

2 weeks 5 days ago

Minister for Financial Services, Stephen Jones, has provided further information about the second tranche of the Delivering Better Financial Outcomes (DBFO) reforms....

1 week 4 days ago

TOP PERFORMING FUNDS