A Northern Trust news release said the improvements to the system will increase safeguards for trade instructions in all asset classes and provide a secure method of delivering trade instructions to Northern Trust. The enhancements offer secure transaction processing for alternative assets, including private equity limited partnerships and hedge funds of funds, and global unitized funds and commingled funds.
According to the company, Trade Order Entry will also offer private equity investors access to enriched real-time cash forecast information. Clients will have the option to require dual approvals for trade instructions as a risk-management measure.
“To meet the demand for risk controls across sophisticated
portfolios, our strategic initiative is to enhance real-time data
availability and standardize private market asset servicing on our core
operating platform,” said Paul Jezek, Product Manager for Trade Order
Entry at Northern Trust, in the news release.
Trade Order Entry is available to Northern Trust custody clients through Passport, Northern Trust’s secure Web portal.