Calastone, the global funds transaction network, has launched Calastone Data Services, a MiFID II-inspired global market intelligence solution offering fund managers detailed insight and transparency into their global fund distribution whilst also supporting client firms in meeting changing regulatory obligations.
The solution is unique in its ability to collate bottom-up transactional data across the global distribution chain to create a detailed and accurate look-through at both market and individual firm levels, says Calastone.
Rob Swan, managing director – Data Services said: “Many fund management firms are not prepared for the scope and volume of work required to simply achieve look-through of their product distribution, a task that involves the consolidation of data across thousands of administrators, distributors and advisors. We anticipate that aspects of the upcoming MiFID II regulation will require fund managers to add a market overlay to monitor the full distribution chain effectively. The scale of this task should not be underestimated. The recent one-year delay of the regulation must not be seen as an opportunity to defer the project, but rather as time to ensure compliance with their regulatory obligations.”
Jon Willis, Chief Commercial Officer, said: “Calastone’s heritage has been founded in supporting the funds industry by driving greater efficiency through automation. We welcome all initiatives to create greater transparency across the industry and are proud to play our part in helping our clients benefit from unique insights into their distribution chain that will ultimately lead to operational efficiency.”