Investec offers automated structured product dealing

Investec Structured Products claims to be the first to offer automated dealing of structured products to wraps and platforms after partnering with transactional network Calastone and Novia Financial.

Investec will now offer a suite of continuously available structured deposits and structured investments via the networks, building efficiency and a wider market audience.

Mike Newman, head of business infrastructure and development at Investec, said: “As we already transact our mutual funds business over Calastone’s transaction network, they were perfectly placed to provide this service.”

Julien Hammerson, chief executive and chairman of Calastone, explained the launch will sit alongside the existing product suite, which comprises of ‘order routing’, ‘net settlements’, ‘reconciliations’ and ‘re-registration’.

Nick Raine, head of operations at Novia Financial, added: “We are confident that now we are able to transact our structured product orders over the transaction network, this will help us reduce our processing costs and remove much of the manual processing risk.”