Deals and People December 4, 2009

Northern Trust Announces Selections for Emerging Broker Program

December 4, 2009 (PLANSPONSOR.com) - Northern Trust's asset management arm, Northern Trust Global Investments (NTGI), has selected seven emerging and minority/women-owned broker/dealers for its list of preferred equity trading partners.

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According to an announcement, the equity trading firms, which met selection criteria including execution capabilities, technology platforms, and capital commitment, are:

  • M.R. Beal and Company, Chicago, Illinois;
  • Blaylock Robert Van Securities, LLC, Oakland, California;
  • Cabrera Capital Markets, LLC, Chicago, Illinois;
  • Guzman & Company, Coral Gables, Florida;
  • Loop Capital Markets, Chicago, Illinois;
  • M. Ramsey King Securities, Inc., Burr Ridge, Illinois; and
  • Samuel A Ramirez & Company, Inc., New York

 “In addition to best execution in particular markets, these firms demonstrate a commitment to compliance and risk management that is important to Northern Trust and our clients,” said Lyle Logan, executive vice president and managing director of client servicing and sales at NTGI, in the announcement.

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Equity trading partners were selected by NTGI executives from a group of 36 broker/dealers that responded to a request for information. Northern Trust went through a similar process in 2007, and the firms selected then were invited to rebid. Because fixed-income requires a larger universe of trading partners to achieve liquidity and best pricing, NTGI does not limit the number of firms it considers for fixed income trading.

In 2008, Northern Trust traded in excess of $40 billion worth of equity and fixed-income securities with broker/dealers in the Emerging Broker Program, up from $30 billion in 2006.

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