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, May 31, 2022 – Northern 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.
Northern 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.
“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.”
The 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.
"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."
Northern Trust continually innovates and invests in technology in support of its clients, delivering a differentiated approach to trading that includes Integrated Trading Solutions, offered through Institutional Brokerage. Both are part of Northern Trust Capital Markets which provides foreign exchange, securities lending and transition management services.
Commcise research evaluation platform is trusted by the world’s largest asset managers totaling over US$20 trillion in assets under management. With 2,500+ research providers connected to the platform, Commcise captures the highest quality consumption data allowing clients to most effectively manage, review, evaluate, and price every research relationship. Additionally, with over 100 brokers contributing trade data, Commcise facilitates commission management and research funding with the full spectrum of aggregation services. Part of the Euronext group, Commcise operates across the US, Europe and Asia with offices in New York, London, Bangalore, and Delhi.
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 22 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, 2022, Northern Trust had assets under custody/administration of US$15.5 trillion, and assets under management of US$1.5 trillion. For more than 130 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity and innovation. Please visit our website or follow us on Twitter.
Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A., incorporated with limited liability in the U.S. Please read our global and regulatory information.