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Northern Trust Launches ‘FX Algo Suite’ in Singapore to Serve Growing Asia-Pacific Client Base

Northern Trust (Nasdaq: NTRS) today launched its FX Algo Suite for Asia-Pacific clients, supported by an expanded trading desk in Singapore. The FX Algo Suite applies sophisticated, customizable execution algorithms, enabling clients to manage their foreign exchange exposure with an enhanced level of control and transparency.

SINGAPORE - Northern Trust (Nasdaq: NTRS) today launched its FX Algo Suite for Asia-Pacific clients, supported by an expanded trading desk in Singapore. The FX Algo Suite applies sophisticated, customizable execution algorithms, enabling clients to manage their foreign exchange exposure with an enhanced level of control and transparency. 

The FX Algo Suite in Singapore is the latest technology solution in Northern Trust’s extensive range of foreign exchange products. The array of capabilities includes CompleteFX™, an outsourced FX execution service for investment managers, that integrates best-in-class technology with the bank’s deep experience in currency markets; a set of enhanced FX algo-trading capabilities borne from Northern Trust’s acquisition of BEx LLC in 2018; and advanced currency overlay solutions, including ‘look through’ hedging, from the bank’s recent partnership with Lumint Corporation. 

John Turney, global head of Foreign Exchange at Northern Trust, said: “We have built a compelling global FX offering that enables clients to benefit from highly automated trade execution with enhanced transparency and access to exceptional liquidity. Ownership of BEx reinforces our proven ability to bring innovative high quality FX products to market rapidly in support of our sophisticated global client base.” 

To support business growth in the region, Northern Trust has also expanded its capabilities with a dedicated trading room for the FX Algo Suite in Singapore, headed by Sophia Mong, chief dealer, Asia Pacific and head of Treasury, Singapore. 

Yen Leng Ong, country executive for Southeast Asia, Northern Trust, added, “We are delighted to launch our algorithmic FX execution service in Singapore, one of the leading FX hubs in the region, and our FX trading centre in APAC since 1996. This exciting development aligns perfectly with the growing needs of our clients as they evolve their trading strategies and provides them with access to increasingly sophisticated local support and expertise.” 

Northern Trust has an established network of 11 offices across APAC - in Beijing, Bengaluru, Hong Kong, Kuala Lumpur, Manila, Melbourne, Pune, Seoul, Singapore, Sydney, and Tokyo. It has strategic relationships with some of the region’s largest central banks, sovereign wealth funds, government agencies, corporations and asset managers, offering a comprehensive range of customised asset servicing, asset management and capital markets solutions. 

About Northern Trust

Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking to corporations, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has a global presence with offices in 20 U.S. states and Washington, D.C., and across 23 locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of March 31, 2019, Northern Trust had assets under custody/administration of US$10.9 trillion, and assets under management of US$1.2 trillion. For more than 125 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity and innovation. Visit northerntrust.com or follow us on Twitter @NorthernTrust

Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A., incorporated with limited liability in the U.S. Global legal and regulatory information can be found at http://www.northerntrust.com/disclosures.