Last week fund management network Calastone announced that JP Morgan Asset Management would use Calastone’s blockchain-based solution for automated money market fund settlement. Calastone, with more than 1,900 clients in the fund management sector, migrated its entire infrastructure onto blockchain a year ago. It positions its platform as a Distributed Market Infrastructure (DMI) and essentially provides integration for the fund sector.
Now all parties share the same view of transactions, whether an administrator, asset manager, broker / intermediary or retail investor. Before the migration to distributed ledger technology (DLT), communications between parties always involved messaging using SWIFT and other formats.
In 2018 Calastone launched its money market services. It automates the connection of corporate or bank treasury management systems that have cash to invest, linking them to money market funds. Any money market fund connected to the Calastone network automatically has a connection to any investors on the network.
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