Northern Trust: algos give power to clients
The release of an FX algorithm suite in June ushered in a new era for the custody giant
In August 2016, Chicago-based custody giant Northern Trust made a big announcement: it had formed an exclusive partnership with BEx, a local financial technology firm that evolved from the high-frequency trading space. In June this year, the bank released a suite of algorithms intended for clients. And, just like that, the idea of Northern Trust being a venerable but unexciting custodian bank is diminishing.
“This partnership [with BEx] affords us the speed required to interact with all the
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