Calastone Settlement welcomes Hargreaves Lansdown

 

Hargreaves Lansdown has gone live with Calastone Settlements, which was created to automate the reconciliation and settlement process of investment funds.

Danny Cox, head of communications at Hargreaves Lansdown said: “Automatic matching of trades and the netting of settlement positions early in the day will improve the efficiency of our operational and treasury teams. Given the number of transactions that Hargreaves Lansdown processes this is of huge benefit.”

Using Calastone Settlements, settlement payments are automated and are transacted net; Calastone calculates that this results in a reduction of settlement payments of up to 52 percent.
In 2015, it says, an estimated £158 billion of settlement payments took place needlessly.