Northern Trust: algos give power to clients

Ron Klipstein_Northern Trust.jpg — Ron Klipstein: “We have built out this global network, which, in combination with our speed, allows us to obtain the best prices available on our liquidity panel”

- By Laura Matthews
- 26 Sep 2017

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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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