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.”

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