Press release
Northern Trust to provide Integrated Trading Solutions for Illinois Municipal Retirement Fund
Outsourced Trading Capability Delivers Efficiencies across Front, Middle and Back Offices for IMRF Internally-Managed Portfolio CHICAGO--(BUSINESS WIRE)--
About this update from Northern Trust Corporation
[{"type":"text","content":"\nOutsourced Trading Capability Delivers Efficiencies across Front, Middle and Back Offices for IMRF Internally-Managed Portfolio\n\n CHICAGO--(BUSINESS WIRE)--\nNorthern Trust today announced it will provide Integrated Trading Solutions, including outsourced trading and middle office functionality, for a domestic equity portfolio managed internally by the Illinois Municipal Retirement Fund (IMRF), the state’s second-largest public retirement plan.\n\n\nNorthern Trust’s outsourced trading capability combines worldwide trading expertise in equities and fixed income with access to global markets, multiple trading locations, high-quality liquidity and an integrated middle and back office service.\n\n\n“Through Integrated Trading Solutions, we provide global trade execution, matching, and transaction cost analysis reporting that supports IMRF’s commitment to delivering quality and cost-efficiency,” said Grant Johnsey, Head of Institutional Sales and Trading, Northern Trust Securities, Inc. “Our trade execution solution is helping the IMRF team free-up resources, while allowing them to exercise the high levels of oversight and governance that they and their participants demand.”\n\n\n“We have a long-standing relationship with Northern Trust and appreciate the level of service and expertise they provide to us,” said Dhvani Shah, Chief Investment Officer at IMRF. “IMRF works with Northern Trust in other capacities and views the ITS platform as an addition to an already well-functioning relationship between our organizations.”\n\n\nMichael Lowery, Quantitative Equity Trader at IMRF, added: “IMRF views Northern Trust ITS as an extension of its own internal trading function that will benefit from industry experience, transaction cost analysis (TCA) and transparency into the execution process. As an agency broker, Northern Trust’s interests are aligned with IMRF in achieving best execution while meeting our minority brokerage goals.”\n\n\nNorthern Trust and IMRF have a more than 30-year relationship. Northern Trust provides global custody, securities lending, valuation support, compliance analysis, banking, treasury services, investment management and now Integrated Trading Solutions to the $44 billion Fund.\n\n\nIn support of its clients, Northern Trust continually innovates and invests in technology, delivering a differentiated approach ...