15 April 2015
Reporter: Stephanie Palmer

Northern Trust looks to Euroclear for efficiency

Northern Trust is cooperating with Euroclear UK and Ireland (EUI) to improve accuracy and efficiency for its investment fund transactions and enhance processing capabilities.

Through the partnership, Northern Trust hopes to provide automated unit settlement capabilities across the funds market, in addition to its existing capabilities for bond and equity transactions.

The EUI solution provides end-to-end automation from the point of placing an order to the settlement, transfer and reconciliation, and also includes processing corporate events.

Justin Chapman, global head of industry management at Northern Trust, said: “As the settlement landscape continues to evolve, Northern Trust is focused on ensuring we can offer the most efficient and accurate processing available.”

“While greater automation is a continuing issue across the funds industry, utilising Euroclear’s fund processing solution, Northern Trust is well positioned at the forefront of this change.”

Katrina Sartorius, head of product management at Euroclear UK & Ireland, added: “Our automated fund services allow our clients to better manage cash and fund unit positions throughout the business day.”

“Northern Trust joins a select band of leading custodians in moving away from the prohibitively high rates of cost and risk associated with manual fund administration. We applaud Northern Trust’s continued pursuit of ever increasing levels of service excellence towards its clients – which today took another step forward by leveraging our integrated, electronic order routing and settlement infrastructure.”

More news
The latest news from Asset Servicing Times
Join Our Newsletter

Sign up today and never
miss the latest news or an issue again

Subscribe now
LEIs offer major cost savings, says OFR
17 November 2017 | Washington DC | Reporter: Drew Nicol
The OFR noted that early academic studies found that cost savings associated with adoption of the LEI approached $1 billion annually
InvestCloud builds on digital platform
17 November 2017 | Los Angeles | Reporter: Stephanie Palmer
Financial technology provider InvestCloud has added a new portfolio management tool to its digital platform
Deutsche Boerse taps UniCredit’s Theodor Weimer as CEO
16 November 2017 | Frankfurt | Reporter: Drew Nicol
Theodor Weimer begins his new role in January, and will take over from Carsten Kengeter, who will leave Deutsche Boerse at the end of 2017
Volante and Open Vector partner
16 November 2017 | New York | Reporter: Jenna Lomax
Open Vector open banking strategy will be combined with Volante’s VolPay Channel
Industry consortium creates third-party risk platform
16 November 2016 | London | Reporter: Theo Andrew
TruSight includes American Express, Bank of America, J.P. Morgan Chase and Wells Fargo, and intends to deliver a “comprehensive approach”
Northern Trust AM names new regional COO
16 November 2016 | London | Reporter: Theo Andrew
Northern Trust Asset Management (AM) has promoted Martha Fee to COO for Europe, the Middle East and Africa and the Asia-Pacific region
Vela launches new data hub
15 November 2017 | London | Reporter: Jenna Lomax
The new data hub will provide clients with access to multiple systematic internaliser liquidity price feeds through a single application programming interface
More news