Thomson Reuters Launches New Equity and Fixed Income Index Solution for Asset Servicing Industry
Northern Trust is first asset servicing provider to offer the new solution to institutional fund clients for benchmarking purposes
NEW YORK - Thomson Reuters, the world’s leading source of intelligent information for businesses and professionals, today announced the launch of a new benchmarking solution to help asset servicing providers (custodian banks) with investment decision-making and measurement of performance. The Thomson Reuters equity and fixed income benchmarks will provide custodian banks with performance measurement analytics that are cost effective and highly correlated with other major global market indices. Northern Trust is the first asset servicing provider to adopt the Thomson Reuters indices as benchmarking solutions for its institutional fund servicing clients.
Thomson Reuters equity and fixed income indices are available as part of a new commercial model, which packages the indices into a simple, cost effective way that defies the complex, high fee structures associated with the index industry. The launch of this model supports Thomson Reuters vision to connect and enable the global financial community and represents a significant step forward in addressing the benchmarking needs of the investment community.
“Thomson Reuters is delighted to be working with Northern Trust, a market leading name in the asset servicing space,” said Steven Carroll, head of indices at Thomson Reuters. “We recognize the significant challenges to banks and institutional investors in the current environment and believe that our new offering will allow custodians to provide options with more flexibility to their customers while maintaining the same level of quality as comparable products. Thomson Reuters is committed to providing cost effective solutions for benchmark index requirements across global capital markets, and this is an example of our ability to innovate and deliver.”
“We welcome this opportunity to be the first to work with Thomson Reuters on this initiative to provide our clients with more quality options for their evaluation needs,” said Joe Nardulli, head of the investment risk and analytical services index product at Northern Trust. “Across the retirement and fund servicing industries we have seen increased restrictions and costs added to operating models. This new solution helps Northern Trust begin to offer more options for our clients.”
Northern Trust has provided risk and performance services to institutional asset servicing clients for more than 30 years. Capabilities delivered through the Investment Risk & Analytical Services group include risk monitoring, performance evaluation and compliance services. These new capabilities enhance the existing suite of investment risk and analytics solutions.
Thomson Reuters today provides over 10,000 indices that allow market professionals to make better investment decisions and understand market trends. Thomson Reuters equity indices cover 51 countries and 27 regions and utilize the unique Thomson Reuters Business Classification system. Additionally we offer Sovereign Bond Indices for 28 markets and indices for a variety of other asset classes – such as the recently launched TR/GPR Real Estate Indices, Venture Capital Indices and Shariah compliant Indices for Islamic Finance.
Thomson Reuters provides innovative indices and index-related services to the global financial community to help investors make better decisions. Thomson Reuters index clients and partners rely upon the unparalleled breath, depth, global network and vast data and content sets that only Thomson Reuters can provide. Backed by the content, data, independence and global information network of Thomson Reuters, our indices and index services are designed to suit any need. For more information, go to Thomson Reuters Indices.
About Thomson Reuters
Thomson Reuters is the world’s leading source of intelligent information for businesses and professionals. We combine industry expertise with innovative technology to deliver critical information to leading decision makers in the financial and risk, legal, tax and accounting, intellectual property and science and media markets, powered by the world’s most trusted news organization. With headquarters in New York and major operations in London and Eagan, Minnesota, Thomson Reuters employs approximately 60,000 people and operates in over 100 countries. Thomson Reuters shares are listed on the Toronto and New York Stock Exchanges. For more information, go to thomsonreuters.com.
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