01 / CONNECT
Reach counterparties through a common interface.
Reduce the need for a separate connection to every participant. Route instructions to connected institutions through shared identification and addressing.
Our network / Interoperability & Innovation
Different systems.
One common language channel.
Connecting the institutions, technologies and settlement rails that power private markets so information can move across the ecosystem with less friction.
Explore the connected ecosystem01Connect existing infrastructure
02Standardize the exchange
03Coordinate across rails
A connected market starts here
Your systems.
A wider ecosystem.
Private markets span many institutions, each with its own technology, data formats and operating requirements. Every bespoke connection adds another interface to maintain and another handoff to reconcile.
FundStream is being developed as a shared messaging and orchestration layer. Its purpose is to let participants exchange instructions, lifecycle events and settlement information through a consistent framework, while continuing to operate their own systems.
See how the layers connectInteroperability, in practice
Connect at every layer.
Explore how the proposed network brings institutional connectivity, common messages and settlement coordination together.
Keep your systems. Extend your reach.
A shared connection model is designed to link distributors, asset managers, transfer agents, administrators, custodians and banks. Interfaces and mappings are agreed for each connected workflow.
Institutional connectivityCounterparty routingAgreed interfaces
ORIGINATOR
Distributor system
FUNDSTREAM
Validate & route
RECIPIENT
Transfer agent
Example: a subscription instruction moves from a distributor’s system to the designated transfer agent.
Illustrative workflow · Planned capability
From connection to coordination
A shared language.
A more consistent transaction journey.
02 / STANDARDIZE
Make information usable across systems.
Map agreed message fields, validate required information and retain transaction references as instructions move between participants.
03 / COORDINATE
Keep the lifecycle in view.
Connect acknowledgments, confirmations, exceptions and settlement statuses so authorized counterparties can follow the same transaction journey.
Innovation with continuity
Bridge today’s systems.
Prepare for tomorrow’s rails.
Private funds will operate across traditional and digital environments. FundStream’s design brings the messaging between those environments into one framework, with the flexibility to add new connections over time.
Messaging enables coordination.
Asset issuance, custody, payment execution and settlement finality remain with the responsible institutions and infrastructures. Delivery-versus-payment outcomes depend on the capabilities and rules of the connected rails.
Traditional fund infrastructure
Connect subscription, redemption and transfer instructions with confirmations and settlement information from existing participants.
Tokenized fund infrastructure
Extend common transaction references and lifecycle messaging to connected tokenized-fund platforms.
Emerging digital settlement rails
Explore cash-and-asset coordination with supported digital cash environments, subject to integration, availability and market rules.
Clarity by design
What interoperability means for you.
A common network needs clear responsibilities.
Do participants need to replace their existing systems?
The design is to connect existing systems through agreed interfaces and message mappings. Each integration still requires scoping, security review and testing; the work depends on the participant’s technology and workflow.
How do messaging standards fit?
FundStream’s approach is to use established financial messaging standards, including ISO 20022 where relevant, and define market-specific data requirements. Standards alignment and supported message types must be confirmed for each workflow.
Does FundStream perform clearing or settlement?
The proposed network routes instructions and coordinates information between participants and settlement infrastructures. The responsible providers perform clearing, payments, custody and settlement under their own rules.
Which markets inform the initial design?
The initial focus includes evergreen private funds, ELTIFs and UK LTAFs, with private credit, real estate and infrastructure strategies. These fund structures and investment strategies inform workflow design; they do not imply that every market or rail is connected.
Are these integrations available today?
This page describes FundStream’s development direction and illustrative workflows. Production connections, supported standards and service availability should be confirmed as specific integrations are delivered.
Build the connection
Delivering interoperability
in a fragmented world.
Start with one instruction, the counterparties involved and the handoffs in between.
Want to learn more?
Reach out to our team to learn more and shape the future of Tomorrow’s Markets together.