- Investec are first to offer automated dealing of structured products to Wraps and Platforms via Calastone’s global transaction network.
Investec Structured Products have today announced that, for the first time, Wraps and Platforms will have the facility to deal electronically in structured products. Offering a suite of continuously available structured deposits and structured investments, the market leading provider is renowned for client servicing and innovation. By bringing automation to the dealing process, Investec builds on this reputation offering clients improved operational efficiencies.
Nick Raine, Head of Operations of Novia Financial, said: “We are confident that now we are able to transact our structured product orders over the transaction network, this will help us reduce our processing costs and remove much of the manual processing risk.”
Commenting on the launch of the new service, Julien Hammerson, CEO and Chairman of Calastone, said: “We work closely with our customers to identify where further focus is required. Launching a structured products solution complements our existing product suite, which comprises of ‘order routing’, ‘net settlements’, ‘reconciliations’ and ‘re-registration’, amongst others.”
Mike Newman, Head of Business Infrastructure & Development at Investec Structured Products, said: “We have strong links with all the major Wraps and Platforms and are therefore very pleased to be able to improve our service offering to them by providing automated dealing. As we already transact our mutual funds business over Calastone’s transaction network, Calastone were perfectly placed to provide this service. Not only will we be helping our distribution clients increase efficiency, but we will also ensure availability to a wider market audience.”