Northern Trust has been chosen to handle outsourced trading for the Singapore-based investment manager New Silk Road Investment through its Integrated Trading Solutions (ITS). 

This decision comes ahead of the transition to a shortened settlement cycle in the US, Mexico, and Canada on 28 May, shifting from T+2 to T+1. Asia-based asset managers will be heavily impacted due to time zone differences, says Northern Trust in a press release.

“T+1 introduces significant market timing challenges to investors and managers in Singapore,” comments Gerard Walsh, global head of client solutions, banking, and markets at Northern Trust. He emphasises the firm’s commitment to overseeing the entirety of New Silk Road’s US dollar execution, trade matching, clearing, settlement processes, and trade-related foreign exchange as a single life cycle.

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Yen Leng Ong, Northern Trust’s Southeast Asia country executive, underscores the alignment between New Silk Road’s needs and the capabilities of the ITS offering. Ong highlights the solution’s capacity to integrate middle to back-office processing, thereby facilitating efficient trade execution.