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Cofunds Signs Up to Calastone, Barclays Managed Fund Settlement Service
Tom Burroughes
21 December 2012
Cofunds, the UK
investment platform, has signed up to Calastone and Barclays' managed fund
settlement service, the final phase of the automated net settlement service
offered by the latter two firms. Calastone has rolled out a settlement service to standardise
and improve settlement automation, building a managed net settlement service
through a partnership with Barclays. The deal with Cofunds is significant as that firm makes up
26 per cent of the UK
platform market. The firms say that a full managed fund settlement service cuts
counter-party and liquidity risk across the market, as well as cash exposures.