The initiative by Northern Trust to integrate these processes, which are traditionally separated, is reported by industry news site Global Custodian.

Caters to asset managers

According to its article, the purpose of integrating the middle-office technology with major providers of order management software (OMS), is to better serve global asset managers and asset owners. Hedge funds are mentioned too.

The endeavour is said to focus on transaction capture, data synchronisation and reconciliation.

Gathers underlying data

Global Custodian also reports that Northern Trust is also considering rolling out a new asset servicing technology architecture, called Matrix, which could plug into existing custody and fund administration platforms.

Described as “event-driven”, it would aim to centralise data captured by underlying custody, fund administration and transfer agency platforms.