Source: Northern Trust
Northern Trust announced today it has strengthened its client-specific asset pricing capabilities for investment managers on its Investment Operations Outsourcing platform through an agreement with Broadridge Financial Solutions Inc., a technology services company that provides information processing for investor communications and securities transactions.
Under the agreement, Northern Trust will utilize Broadridge's Managed Data Service to further automate flexible pricing models for Investment Operations Outsourcing clients and monitor complex and customized pricing rules with consistent oversight and transparency.
"Northern Trust sets the highest standards in outsourcing support for investment managers, and we have selected Broadridge as a trusted provider that shares our values," said Paul Fahey, Head of the Global Fund Services Product Group at Northern Trust. "With this agreement, Northern Trust continues to strengthen its Investment Operations Outsourcing capabilities worldwide, providing a balance of flexibility in pricing strategies with valuation oversight. These are critical in today's complex and volatile markets."
The enhanced service delivers price calculation capabilities, including blended fixed income prices and depository receipt prices based on the underlying asset price. Additionally, investment managers can review their pricing model effectiveness and analyze pricing exceptions and variances through client defined control reporting.
Lisa Lidsky, Vice President, Securities Processing Solutions, Broadridge, commented: "We are delighted to support Northern Trust through our Managed Data Service. In these times of increasingly tighter regulation and industry change initiatives, it is gratifying to see our clients benefiting from the significant investment in people, process and technology that Broadridge has undertaken to make this service available to its customer base. Broadridge's Managed Data Service is a unique combination of the industry's 'best of breed' technologies combined with Broadridge's world class data centers, infrastructure and people, giving our clients a clear return on investment and time-to-market advantage."