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https://ww w.northerntrust.com/about-us/news/press-release?c=8d19fc8039bce15a93d007cbbd3a3518
Northern Trust To Leverage GlobalCollateral LTD’s Margin Settlement Messaging Service
Global fund administrator adopts solution to increase transparency, enhance client service and improve custodian communications
CHICAGO, July 26, 2016 —
DTCC-Euroclear Global Collateral Ltd, a joint venture (JV) of Euroclear and The Depository Trust & Clearing Corporation (DTCC), today announced that Northern Trust, one of the world’s largest fund administrators, will implement GlobalCollateral’s Settlement Messaging Service. The adoption of the service will streamline Northern Trust’s margin call process, increase transparency through automated collateral settlement tracking, enhance client service and improve custodian communications.
GlobalCollateral’s Settlement Messaging and Tracking Service powered by Margin Transit Utility technology is currently ready for client on-boarding and is anticipated to go live with client collateral movements during the first half of 2017. It will provide straight-through processing to the settlement of margin obligations, as the industry prepares for pending global derivatives regulations projected to create an increase in margin calls and operational complexity.