Northern Trust Poised to Support MiFID II Managers Responding to Upcoming Regulatory Changes
28 Settembre 2023 - 10:49AM
Business Wire
Following the expiration of the U.S. Securities and Exchange
Commission’s (SEC) No Action Letter relating to research payments
on July 3, 2023, Northern Trust (Nasdaq: NTRS) is working to find
solutions for MiFID II managers facing potential difficulties
paying US bank research providers.
“The recent US regulatory developments combined with potential
changes in research funding regulations in the UK and EU may
present both challenges and opportunities for asset managers to
optimize research access,” said Glenn Poulter, global head of
brokerage and integrated trading solutions, at Northern Trust.
“Northern Trust Capital Markets is focused on helping our clients
to streamline their processes and improve efficiencies as part of
our strategy to provide integrated services and technology across
the investment lifecycle.”
Northern Trust Capital Markets is collaborating with independent
consultant, Frost Consulting, to examine the challenges for MiFID
II in scope managers, who may face potential difficulties paying
U.S. bank research providers which have not registered as
Registered Investment Advisors (RIAs), or are unable or unwilling
to accept hard dollar payments at their European office(s) for
global research services.
Northern Trust Capital Markets aligns execution, transactional,
lending and financing solutions in equities, fixed income and
derivatives, transition management, foreign exchange, and
securities finance.
“By working with Frost Consulting, we aim to be agile as the
regulations change and be quickly able to provide MiFID II governed
clients with access to enhanced tools that could help them retain
U.S. bank research relationships that might otherwise be lost,”
said Poulter.
Northern Trust Capital Markets provides brokerage, foreign
exchange, securities finance and transition management services.
Comprising more than 500 specialist employees across nine servicing
locations, it offers asset managers and asset owners a holistic
approach designed to deliver greater value. It is a division of
Northern Trust Asset Servicing, which provides asset servicing,
fund administration and middle office solutions to institutional
asset managers and asset owners around the globe.
About Northern Trust Capital Markets
Northern Trust Capital Markets is comprised of a number of
Northern Trust entities that provide trading and execution services
on behalf of institutional clients, including foreign exchange,
institutional brokerage, securities finance and transition
management services. Institutional Brokerage services including ITS
are provided by Northern Trust Global Services SE (NTGS SE) in the
European Economic Area (EEA), Northern Trust Securities LLP (NTS
LLP) in the rest of EMEA, Northern Trust Securities Australia Pty
Ltd (NTSA) in APAC and Northern Trust Securities, Inc. (NTSI) in
the United States, member FINRA, SIPC and a subsidiary of Northern
Trust Corporation.
About Northern Trust
Northern Trust Corporation (Nasdaq: NTRS) is a leading provider
of wealth management, asset servicing, asset management and banking
to corporations, institutions, affluent families and individuals.
Founded in Chicago in 1889, Northern Trust has a global presence
with offices in 25 U.S. states and Washington, D.C., and across 22
locations in Canada, Europe, the Middle East and the Asia-Pacific
region. As of June 30, 2023, Northern Trust had assets under
custody/administration of US$14.5 trillion, and assets under
management of US$1.4 trillion. For more than 130 years, Northern
Trust has earned distinction as an industry leader for exceptional
service, financial expertise, integrity and innovation. Visit us on
northerntrust.com. Follow us on X (formerly Twitter) @NorthernTrust
or Northern Trust Corporation on LinkedIn.
Northern Trust Corporation, Head Office: 50 South La Salle
Street, Chicago, Illinois 60603 U.S.A., incorporated with limited
liability in the U.S. Global legal and regulatory information can
be found at https://www.northerntrust.com/terms-and-conditions.
http://www.northerntrust.com
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version on businesswire.com: https://www.businesswire.com/news/home/20230928602443/en/
Media Contacts
Europe, Middle East, Africa & Asia-Pacific: Camilla Greene
+44 (0) 20 7982 2176 Camilla_Greene@ntrs.com
US & Canada: John O’Connell +1 312 444 2388
John_O’Connell@ntrs.com
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