The launch of the outsourcing trading service for asset owners and asset managers made Northern Trust the first custodian to take on certain buy-side trading functions.
Tag: Front office
The focus on increased transparency through transaction and trade reporting have led to a surge in demand for data generated from financial market infrastructures.
The custodian will also look to deliver new capabilities across data aggregation, data enhancement and data analytics to support trading and execution.
The move is the latest effort by custodians to expand into the front-office; however, Northern Trust is the first to take on certain trading activities for asset managers.
The Series A round of funding for the FinTech firm is the latest move for fund administrations expanding their front-office data capabilities.
CrossWise was launched earlier this year for asset managers to optimise their operating model by combining its front and back-office services.
In the newly-created role, he will be responsible for all front-, middle-, and back-office services to asset owners and asset managers.
State Street makes another move into front office trading technology with acquisition of FX TCA provider BestX.
State Street believes it can increase its footprint in the wealth space following acquisition of front-office service provider Charles River.