Press release
Northern Trust Enhances Commission Management for Outsourced Trading Clients
Collaboration with Commcise will provide asset managers and hedge funds with web-based tools to manage research and commission budgets. CHICAGO--(BUSINESS
About this update from Northern Trust Corporation
[{"type":"text","content":"\nCollaboration with Commcise will provide asset managers and hedge funds with web-based tools to manage research and commission budgets.\n\n CHICAGO--(BUSINESS WIRE)--\nNorthern Trust (Nasdaq: NTRS) has streamlined the commission management process for its Integrated Trading Solutions (ITS) clients through a collaboration with Commcise, a provider of cloud-based software solutions, including commission management and aggregation services, research valuation, consumption tracking and share-of-wallet reporting.\n\nNorthern Trust’s outsourced trading capability combines worldwide trading expertise in equities and fixed income across global markets, coverage from multiple trading locations, access to high-quality liquidity, flexible and customizable foreign exchange trading solutions and a fully integrated middle- and back-office service.\n\n“As a leading outsourced trading provider, we are an extension of our clients’ operations,” said Grant Johnsey, Head of Integrated Trading Solutions, Americas, for Northern Trust Capital Markets. “We recognize the importance of accessing key research while also balancing execution costs. We chose Commcise as a best-in-breed provider of technology and commission aggregation services to give clients a complete view and management of their full commission wallet and research budgets. This enhanced capability is evidence of how we look across the spectrum of client challenges and provide solutions for their whole office.”\n\nThe Commcise platform provides managers with automated soft dollar reconciliation, invoice/contract management, commission targeting, broker voting, commission management and reporting. The web-based portal allows for more efficient and timely tracking and reporting of research expenses, invoices and payments while their client service team provides for comprehensive commission aggregation services including trade reconciliation and invoice management.\n\n\"We are delighted to collaborate with Northern Trust,\" added Amrish Ganatra, CEO of Commcise. \"They are a leader in outsourced trading, especially with larger asset managers and hedge funds. As many of their clients fully outsource trading to them, we believe that our tools to help manage commission budgets and track research utilization will prove extremely valuable.\"\n\nNorthern Trust continually innovates and invests in...