According to a news release, Northern Trust’s Trade Services product allows global institutional investment managers to selectively outsource various components of their back-office post-execution processing to Northern Trust. The investment managers can do the pick-and-choose outsourcing for equities, bonds, and foreign exchange.
Northern Trust said the product’s value is in giving money managers the flexibility of sending out certain chores in back-office processing – realizing a potential cost savings and efficiency for them and their clients – while being able to hang onto other tasks such as maintaining books and records and client reporting information.
Components of this newly enhanced capability include, according to the company:
- broker matching
- foreign exchange matching
- third party communication
- exception resolution
- counter party performance evaluation.
The announcement said the institutional investment managers and their clients could benefit from the managers not having to continuously adapt to industry and technological changes; reduced expenses gained by transforming infrastructure and technology fixed costs into variable costs, based on usage; and the elimination of manual processes through automated trade processing.
For more information, go to www.northerntrust.com.