Northern Trust has launched CompleteFX, a stand-alone foreign exchange product for investment managers seeking best-in-class operational efficiency and flexible execution options.
CompleteFX is a fully-customised service and technology platform supporting 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. Developed from existing FX execution services Northern Trust offers to its investment operations outsourcing clients, CompleteFXTM provides investment managers the benefits of outsourced FX processing and execution. These benefits include:
• Seamless transmission of instructions from client to provider
• Efficient translation of instructions into FX transactions, including optional broker matching services
• A customised trading program across their full block of accounts
• Accurate trade settlement and detailed transaction reporting
“With more than 35 years of foreign exchange experience, Northern Trust understands the resource demands and global presence required to provide investment managers operational efficiency and flexibility in FX execution,” says Dan Houlihan, Head of Global Fund Services in North America at Northern Trust. “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.”
Using CompleteFX, client trades flow seamlessly across Northern Trust’s integrated global operating platform, using a fully automated, straight through process. The platform 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.
“As investment managers pursue their strategies, they are faced with unique operational and market complexities in the management of foreign exchange risk,” says John Turney (pictured), Head of Outsourced Foreign Exchange Solutions at Northern Trust. “CompleteFXTM allows investment managers to outsource their FX processing and execution by taking advantage of the options we offer.”
