Calastone gives the global pension community free access to its SWIFT bureau service

March 14, 2014

Calastone, the global messaging and settlement transaction network for the mutual fund industry, announces it has extended access of its SWIFT Bureau services to the defined contribution pensions industry, free of charge. The first two clients to benefit from this new service are Aon Hewitt and Baillie Gifford.

 

Connecting via the ViaNova message standard, the agreed industry standard for data exchange, participant firms will benefit from access to Calastone’s full range of SWIFT Bureau services without the significant investment of maintaining their own SWIFT infrastructure or managing multiple bank relationships. Calastone will host participants’ BICs (Bank Identifier Codes) or allow participants to utilise Calastone’s own BIC, helping those connected to Calastone to reduce their connectivity and messaging costs.

 

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An independent web site provided by the ViaNova working group to encourage the adoption of a standard approach to electronic order processing in the UK corporate pensions industry.