Northern Trust has chosen Clearstream to handle the third-party fund processing of their investment fund activities, primarily due to Clearstream's one-stop shop Vestima solution for the processing of third party funds, as well as the clearing house's commitment to the funds industry and its automation. "We are pleased that we have been able to secure this partnership with Clearstream," said David M. Cohen, President & CEO of Northern Trust.
Northern Trust has chosen Clearstream to handle the third-party fund processing of their investment fund activities, primarily due to Clearstream's one-stop shop Vestima solution for the processing of third party funds, as well as the clearing house's commitment to the funds industry and its automation. Furthermore, with Northern Trust's $6.1tn assets under custody and $960bn under management, the firm will in turn boost Clearstream's Vestima platform.