Northern Trust has added functionality to its Trade Order Entry platform to further automate private market investments and global funds, while increasing safeguards for trade instructions in all asset classes.
Trade Order Entry provides a secure method of delivering trade instructions to Northern Trust. The enhancements offer this level of secure transaction processing for alternative assets, including private equity limited partnerships and hedge funds of funds, and global unitized funds and commingled funds. Trade Order Entry also now offers private equity investors access to enriched real-time cash forecast information, an important feature as transaction volumes increase for alternative assets. In addition, clients now have the option to require dual approvals for trade instructions as a risk management measure.
In todays complex and fast-paced investment environment, straight-through-processing and comprehensive real-time information are critical components to our clients success, says Paul Jezek, product manager for Trade Order Entry at Northern Trust. To meet the demand for risk controls across sophisticated portfolios, our strategic initiative is to enhance real-time data availability and standardize private market asset servicing on our core operating platform.
Trade Order Entry is available to Northern Trust custody clients through Passport, the multi-faceted, secure Web portal. The tool enhances and standardizes instructions sent to Northern Trust to ensure timely, accurate processing.
This enhancement will enrich information that our clients use daily and improve the effective processing of transactions globally, says Paul dOuville, Head of Product Management at Northern Trust. The new functionality provides an entry way to an end-to-end process encompassing automated trade capture, comprehensive accounting details and real-time cash forecasts, straight through to performance measurement and analytical information via our core asset servicing platform. All of this for an asset class that typically has been manually intensive and supported by adjunct platforms and processes.