Wed, 14/11/2012 - 06:27
Thomson Reuters is launching a 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,” says Steven Carroll, head of indices at Thomson Reuters. “We recognise 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,” says 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.”
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