Fund management firm SEI has chosen Calastone to provide electronic fund purchasing technology for its UK business.
The deal will see SEI funds purchased electronically through the Calastone routing system. Previously the purchase would be completed manually.
SEI head of asset management solutions Andrea Hohlachoff says: “We are pleased to have selected Calastone as our connectivity partner and have been impressed by their flexibility in providing us with the facility to process fund orders electronically with our clients.”
Calastone says SEI clients will now be able to track each fund order electronically.
Calastone UK sales director Paul Jacobs says: “We are looking forward to working with SEI to help improve efficiencies and mitigate operational risk during their order routing activity. We hope the industry continues to recognise the clear benefits of moving away from manual processes.”