Northern Trust expands its fund processing efficiencies

ConnectingAsset manager Northern Trust has enhanced its processing capabilities for investment fund transactions in the UK, in cooperation with the UK’s central securities depository, Euroclear UK and Ireland (EUI).

Using EUI’s investment fund service, Northern Trust can now offer automated unit settlement capabilities across the funds market, in addition to its existing automated settlement capabilities for equity and bond transactions.

Euroclear’s automated fund processing solution was developed in partnership with around 40 fund organisations. It delivers end-to-end automation from the placing of a funds order, to the settlement, transfer and reconciliation.

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

“Whilst 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.”

Northern Trust had $934 billion (€881 billion) in assets under management as of December 31, 2014.

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