Singapore, May 8, 2024–(BUSINESS WIRE)–Northern Trust (Nasdaq: NTRS) today announced that New Silk Road Investment Pte Ltd., a Singapore-based investment management company, is offering an outsourced transaction via Integrated Trading Solutions (ITS). announced that it has been selected as a provider of
Founded in 2009, New Silk Road invests in Asian companies with the goal of achieving long-term returns. In addition to its new mandate for trading services, Northern Trust continues to provide global custody services for New Silk Road funds, which it has done since 2011.
Yen Leng Ong, Country Executive, Southeast Asia, Northern Trust They came to us.” “By delivering on our client-centric solutions approach, we determined that our ITS services were ideally suited to provide seamlessly integrated middle-to-back-office processing and efficient trade execution. We look forward to continuing to build on our relationship with New Silk Road to enhance their global trading needs.”
The transition to shortened settlement from trading day +2 (T+2) to trading day +1 (T+1) in the United States, Mexico and Canada on May 28 will have a major impact on Asia-based asset managers. This poses a challenge for the company. due to time zone differences. Many managers have looked for ways to smooth that transition by outsourcing their trading functions.
Gerard Walsh, Global Head of Banking and Markets Client Solutions at Northern Trust, said: “T+1 poses significant market timing challenges for investors and managers in Singapore, and New Silk “Lord deeply understands the challenges associated with this change.” “Northern Trust is excited to work with New Silk Road to ensure that USD execution, trade matching, clearing, settlement processes and trade-related foreign exchange are managed as a single lifecycle.”
Northern Trust’s outsourced trading capabilities combine global trading expertise in equities, fixed income, exchange traded derivatives, futures and exchange traded funds (ETFs) in global markets. It covers multiple trading locations, provides access to high-quality liquidity, and fully integrated intermediary and back-office services. ITS platforms help asset owners and asset managers significantly reduce costs, reduce risk, manage regulatory compliance, and improve transparency and operational efficiency.
ITS is offered through Institutional Brokerage, part of Northern Trust Banking and Markets, which also provides foreign exchange, securities lending and transition management services.
About Northern Trust
Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, wealth services, wealth management and banking services to businesses, institutions, high net worth individuals and individuals. Founded in Chicago in 1889, Northern Trust has a global presence with offices in 24 U.S. states and Washington, DC, as well as 22 locations in Canada, Europe, the Middle East and Asia Pacific. As of March 31, 2024, Northern Trust had assets under custody and management of US$16.5 trillion and assets under management of US$1.5 trillion. For more than 130 years, Northern Trust has earned a reputation as an industry leader for exceptional service, financial expertise, integrity and innovation. Visit northerntrust.com.follow me X (Formerly Twitter) @NorthernTrust or Northern Trust Corporation on LinkedIn.
Northern Trust Corporation, Headquarters: 50 South La Salle Street, Chicago, Illinois 60603 USA, Incorporated with Limited Liability in the United States Global legal and regulatory information available at https://www.northerntrust.com/terms- and-conditions. .
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