AP Pension, the DKK100bn (€13.4bn) administrator of institutional assets from some 2,000 corporate pension schemes, has selected Calastone to provide an order routing service to facilitate cross-border trading.
The Danish pension holds its clients’ assets in Ucits funds, separate accounts, internally managed funds, and various alternative investment funds.
Calastone enables managers, administrators and distributors to use a common platform by translating different types of communication into a common form that in turn provides scope for more automation and business efficiencies. As a platform, Calastone also offers new users access to all connected fund providers without requiring additional development.
Jon Willis, chief commercial officer at Calastone, said: “Smaller distributors, such as AP Pension, traditionally chose to remain on manual processing as they believed the implementation costs far outweighed the benefits of finding an STP order routing solution. This is no longer the case.”
AP Pension senior portfolio manager, Birgitte Sandberg Jensen, said: “I had a demonstration of the system via Webex and a week later I was sending my trades. I received a complete pack on how to use the system together with a formal testing pack, which I had to complete before I could request to go live. The system is very user friendly. I was fully supported by the Calastone Operations team, who then made moving into production exceptionally easy. I felt comfortable at all times that there was minimum implementation risk due to the strict process and controls Calastone have in place and at every step they were there to guide me and ensure I was completely comfortable. I was able to pass this knowledge on very easily within my team.”