Northern Trust Hedge Fund Services partners with Hazeltree
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Northern Trust Hedge Fund Services partners with Hazeltree 12 April 2018Chicago Reporter: Jenna Lomax
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Northern Trust Hedge Fund Services has launched Cash Optimization, an automated service for viewing and managing cash across all currencies and counterparties to meet funding needs, generating alpha by investing excess cash.
Developed in partnership with Hazeltree, the new service offers a method to managing cash based upon current balances, forecasted transactions and market data such as financing, interest and foreign exchange (FX) rates.
The Cash Optimization service leverages Hazeltree Optimizer, a rules-based cash optimisation platform.
Hazeltree Optimizer has been fully integrated with Northern Trust to provide clients with a single dashboard with additional connectivity to Northern Trust’s FX and liquidity solutions portal services.
This allows investment managers to monitor liquidity, manage broker debit and credit cash positions, perform FX trades and deploy excess cash.
Cash Optimization has Northern Trust data, including intraday cash activity and cash projection, to offer a view of liquidity and cash positions.
Peter Sanchez, CEO of Northern Trust hedge fund services, said: “Cash Optimization is a significant step for investment managers looking to automate what has been a labour-intensive process of managing cash balances, liquidity investments and payments among a complex network of counterparties.”
He added: “Our clients are looking for enhanced treasury and collateral functionality and Cash Optimization provides this by incorporating Hazeltree’s innovative technology in a solution hosted on our middle office platform.”
Sameer Shalaby, president and CEO of Hazeltree, commented: “We are pleased to collaborate with Northern Trust on a solution that offers enhanced treasury functionality to help its clients meet requirements, minimise cash financing costs and invest excess cash in a rising interest rate environment.”
He added: “With cash optimisation, investment managers have access to Hazeltree’s cash management and optimisation capabilities through a solution that is hosted and supported by Northern Trust.”
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