Reuters, Northern Trust In Web Forex Deal

Reuters and
Northern Trust
Company (Chicago)
are to supply a web-based foreign
exchange dealing system to clients of Northern Trust.

The new service will be available to investment
management firms around the world from the third
quarter of this year.

Co-branded as a joint offering from the two firms,
the service will operate on any TCP/IP network and
will use the latest trading technology from Reuters.

“The rapid growth of
cross-border investments has made foreign exchange
trading an intrinsic component of the investment management
process,” said Patrick McDougal, executive vice-president and director of foreign
exchange at Northern Trust

“Northern Trust, with more than $1.3 trillion of
custody assets and a leading foreign exchange presence
worldwide and Reuters, with its strong presence in the
global foreign exchange market and cutting edge technology,
will make for a tremendous strategic partnership.”

Northern Trust has offices in Toronto, Montreal, London,
Hong Kong and Singapore.

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