UK-based Ruffer, with support of Capita Financial Group as administrator, has joined hands with Calastone to unveil the new automated trade notification service.
Capita headed a working group that supervised the design of the application, which allows automatic trade notifications to be generated from each executed trade and routed to the relevant global custodian.
The independent investment management company Ruffer has gone live with the service and is automatically sending settlement instructions over to the first target custodian.
The new automated trade notification capability has been built by Calastone using logical messaging based around a set of technical and business rules, with an aim to improve existing practises and workflow processes for both fund managers and their custodians.
The company said that computerizing such processes also enables the firm to decrease the risks associated with more manual methods of communication between fund managers and their custodians, when each fund manager has a number of custodian relationships.
Capita Financial Group chief executive officer Chris Addenbrooke said the newly developed technology will continue to streamline processes and reduce risk for both its clients and the funds industry as a whole.
Established in 1994, Ruffer has 160 employees and manages offices in London, Edinburgh and Hong Kong.