Brussels
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
Tom Carey takes on new role at Broadridge
16 January 2018 | New York | Reporter: Zsuzsa Szabo
Broadridge Financial Solutions has appointed Tom Carey to head up the firm’s new international business Broadridge International
Raymond James selects Red Deer for MiFID II
16 January 2018 | London | Reporter: Jenna Lomax
Raymond James Investment Services has chosen Red Deer’s research valuation management solution to adhere to MiFID II
SWIFT and CSDs join forces on proxy voting DLT
15 January 2018 | Brussels | Reporter: Jenna Lomax
SWIFT and seven CSDs have partnered to explore how distributed ledger technology could be implemented in proxy voting and for digital assets
Saxo Bank appoints CCO
15 January 2018 | London | Reporter: Jenna Lomax
Bunce will begin his new role in February 2018 and will report to Kim Fournais, CEO and founder
HSBC creates head of innovation role for blockchain actions
15 January 2018 | London | Reporter: Jenna Lomax
Nabi will be responsible for establishing and managing initiatives across HSS — focusing on technology as well as digital and data solutions
Northern Trust acquires technology resources from Citadel
12 January 2018 | Chicago | Reporter: Jenna Lomax
Citadel has agreed to give Northern Trust the software development rights for Omnium, a software solution, along with an undisclosed number of development staff
Lombard Risk share prices soars after Vermeg takeover offer
12 January 2018 | London | Reporter: Zsuzsa Szabo
Dutch financial software provider Vermeg has set its sights on acquiring Lombard Risk with a £52.08 million cash for shares offer
More news