Hargreaves Lansdown goes live with Calastone Settlement

Calastone, the global funds transaction network, says that Hargreaves Lansdown has gone live with Calastone Settlements, its funds settlement solution.

Hargreaves Lansdown is a provider of investment management and pension products and services to private investors and employers in the UK.

The aim of Calastone Settlements is to automate the reconciliation and settlement process of investment funds. Participating firms benefit from greater efficiency gained through automated matching of trades which in turn calculates the net settlement position between trading counterparties.

Danny Cox, Head of Communications at Hargreaves Lansdown said: “Automatic matching of trades and the netting of settlement positions early in the day will improve the efficiency of our operational and treasury teams. Given the number of transactions that Hargreaves Lansdown processes this is of huge benefit.”