Northern Trust’s enhanced straight-through processing strategy is supported by Markit WSO Services from Markit, which facilitates trade capture, tracking, and reporting of syndicated bank loans.

 
Northern Trust announces implementation of automated solution for syndicated bank loans

Chicago, January 15, 2009 – Northern Trust announced today it has implemented an automated solution to process global syndicated bank loan transactions, providing clients with improved data integrity, increased processing speed and enhanced reporting on these complex and unique debt instruments. Northern Trust’s straight-through processing strategy is supported by Markit WSO Services from Markit, which facilitates trade capture, tracking, and reporting of syndicated bank loans.

“Markit WSO is the gold standard for syndicated bank loan processing and is the only full outsourcing solution available in the bank loan market," said Art Jablonski, global head, Alternative Asset Servicing at Northern Trust. "Combined with our dedicated team specializing in syndicated bank loans, Markit WSO brings enhanced capabilities to our clients and reinforces our commitment to this important business."  

Markit WSO allows for posting principal, interest, or any fees associated with incoming payment wires at the loan level, even if held by multiple accounts having uneven denominations of a loan. Clients and investment managers receive automated reconciliation, documentation and loan maintenance for instruments such as term loans, revolvers, letters of credit, delayed draws and bridge loans.  In addition, the incorporation of a more granular level of asset categorization enables more detailed and selective reporting to clients.

“Syndicated bank loans are key components in many portfolio investment strategies, offering a variety of potential benefits,” said Judson Baker, Corporate & Institutional Services alternative assets product manager at Northern Trust. “Our solution offers clients greater flexibility to invest in these instruments, by providing accurate trade capture and lifecycle management for global syndicated bank loan processing as part of a full solution that includes timely payments and customized reporting for reconciliations or general reporting requirements.”

About Northern Trust
Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of investment management, asset and fund administration, fiduciary and banking solutions for corporations, institutions and affluent individuals worldwide. Northern Trust, a financial holding company based in Chicago, has a growing network of 85 offices in 18 U.S. states and has international offices in 15 locations in North America, Europe, the Middle East and the Asia-Pacific region. As of September 30, 2008, Northern Trust had assets under custody of US $3.5 trillion, and assets under investment management of US$652.4 billion. Northern Trust, founded in 1889, has earned distinction as an industry leader in combining exceptional service and expertise with innovative products and technology. For more information, visit http://www.northerntrust.com.

Markit
John Dooley
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Tel: +1 212 205 1310
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