Northern Trust has launched a new foreign exchange product for investment managers called, CompleteFX.
CompleteFX, which is a fully-customized service and technology platform, supports FX transaction processing and execution, combining the operational proficiency of the company’s Global Fund Services infrastructure with the market and execution expertise of its Global Foreign Exchange group.
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The platform is developed from existing FX execution services Northern Trust offers to its investment operations outsourcing clients.
CompleteFX provides investment managers the benefits of outsourced FX processing and execution which include seamless transmission of instructions from client to provider, efficient translation of instructions into FX transactions, a customized trading program across their full block of accounts, and accurate trade settlement and detailed transaction reporting.
The platform also supports flexible order routing and trading options, allowing clients to maintain discretion around the netting of FX transactions, as well as the timing and method of execution, the company said.
Northern Trust head of global fund services for North America Dan Houlihan said: "With global market growth and volatility, managers need a solution that allows them to focus on core strategies, while knowing that currency trade execution aligns with their investment objectives. By enhancing our outsourced FX solution, we deliver in the critical areas of scale, reach, reporting and innovation."
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