Bravura’s Babel provides direct connection for BNY Mellon on Calastone Settlements

London, 14th August 2017 – Bravura’s Babel, an automated end-to-end STP messaging technology solution, offers fund groups access to Calastone Settlements, a new settlements transaction service, with the recent go live of Bank of New York Mellon (BNY Mellon).

First State Investments is the first fund manager to use the service, with administration being carried out by BNY Mellon. The system automates the reconciliation and settlement process of investment funds, with fund connectivity provided by Babel, enabling significant efficiencies in managing post-trade reconciliation. Through the system, settlement payments are automated and transacted net, which could result in settlement payment volumes and values by up to 52%[1].

Bravura first signed an official partnership with Calastone Settlements in 2010, giving Bravura’s clients direct connectivity to Calastone’s live messaging service and transaction network.

Andy Chesterton, Chief Operating Officer, Funds Administration, Bravura Solutions said:

“This is a huge step forward for the industry resulting in automated matching of trades and timely payment on the settlement date which in turn vastly improves automation in the post-trade market and fund manager liquidity.

“The Babel user interface retains a full history and audit trail of the payment history, with any discrepancies highlighted well in advance of settlement date allowing for early identification of unmatched transactions enabling proactive management of the settlement process. Bravura is pleased to partner with BNY Mellon on this important initiative and we look forward to supporting further fund manager and distributor partnerships in the future.”

Bravura’s COO, Global Fund Administration, Andy Chesterton was quoted in this press release. To ask Andy a question regarding the release or to discuss it in more detail, email PR@bravurasolutions.com.

[1] https://www.calastone.com/solutions/transaction-services/settlements/

@BravuraFinTech
on Twitter

Posted 20 days ago

Our Head of Sales for EMEA, @kirstyworgan speaks to @Profadviser Editor, Julian Marr on what role technology can pl… https://t.co/Bd0NnI5KGT

Posted 21 days ago

It seems that the future of robo investing might not be robo at all. It’s about what it’s always been about: servin… https://t.co/R8AhksBnAS

Posted 21 days ago

We're very pleased to announce our fourth Rufus SaaS client, having been selected by T. Bailey Fund Services to pow… https://t.co/v24OZX14Zs

Posted 21 days ago

A refreshingly frank and candid response from Ella Rabener of @ScalableCapital on the complications of delivering f… https://t.co/0IyD2CzNxk

Posted 21 days ago

James Alexander of @Accenture kicking off #ROBO18 with an exploration of what we can expect from 2018. #ai and… https://t.co/9XQf7Lo9nH