Northern Trust Corporation announced that it has been selected to provide outsourced trading via its Integrated Trading Solutions (ITS) for New Silk Road Investment Pte Ltd. In addition to the new remit for trading services, Northern Trust continues to provide global custody services for New Silk Road funds which it has done since 2011. The transition to shortened settlement in the U.S., Mexico, and Canada on May 28 from trade date +2 (T+2) to trade date +1 (T+1) will present challenges for Asia-based asset managers who are heavily impacted due to time zone differences. Many managers have sought ways to smooth out that transition by outsourcing their trading functions.

Northern Trust?s outsourced trading capability combines worldwide trading expertise in equities and fixed income, exchange traded derivatives, futures and exchange traded funds (ETFs) across global markets. It provides coverage from multiple trading locations, access to high-quality liquidity and fully integrated middle and back-office service. The ITS platform helps asset owners and asset managers to meaningfully lower costs, reduce risk, manage regulatory compliance and enhance transparency and operational efficiency.

ITS is offered through Institutional Brokerage, a part of Northern Trust Banking and Markets which also provides foreign exchange, securities lending and transition management services.