Northern Trust expands the reach of the Omnium platform to energy markets.
Northern Trust Hedge Fund Services (NTHFS) has added support for spots, forwards, futures, and physical contracts in energy and physical commodities to its Omnium platform in response to the growing number of asset managers who are trading in global energy markets, officials say.
Officials say Omnium is a middle-office and accounting platform that supports an array of asset classes and investment vehicles. The new enhancements will enhance Omnium’s web-based dashboards, which can be customized to meet clients’ needs and investment strategies.
“As asset managers expand their portfolios to generate alpha in developing asset classes, they increasingly seek the resources that can help them track risks more effectively,” according to the Northern Trust announcement. “NTHFS can support clients who trade these products across multiple markets and regions while also providing a unified investment book of record and accounting book of record across public markets, private markets, and commodities.”
The expansion of support is an attempt to fill “a gap in the market when it comes to servicing these products, where settlements can include physical delivery obligations on multiple time horizons as well as financial implications,” says Jeff Boyd, head of NTHFS, Americas.
The firm has worked with clients to improve “hands-on service, expertise, and data transparency.”
“Northern Trust Hedge Fund Services has been an instrumental partner as our trading support needs have evolved as we continue to scale and enter new markets,” says Christopher Newman, head of operations at Squarepoint Capital, in a prepared statement.
Northern Trust Hedge Fund Services (NTHFS) offer integrated middle and back-office administration to alternative fund managers and institutional investors with complex portfolios, officials say.
Founded in Chicago in 1889, Northern Trust has offices in 24 U.S. states and Washington, D.C., and across 22 locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of June 30, 2024, Northern Trust had assets under custody/administration of US$16.6 trillion, and assets under management of US$1.5 trillion, officials say.
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