London-based Ashmore Investment Management has signed up to use Calastone’s order routing service for its range of funds domiciled in Luxembourg.   

The transaction network will standardise all messages into the ISO 20022 format. Joining the network is a simple process and will not require additional costly technology, the technology provider said in a statement.

Calastone provides automated messaging, order-routing and other functions for the funds business worldwide.

“We are delighted to connect to Calastone’s transaction network and support initiatives which enhance automation within the funds industry. This drives down costs of processing orders, reduces risk and errors, as well as benefiting all counterparties in the life cycle of a trade,” said Christoph Hofmann, head of global distribution at Ashmore Investment Management.