Northern Trust has partnered with Lumint Corporation, a provider of currency management services, to enhance its suite of foreign exchange (FX) solutions for asset managers and asset owners globally.
According to Northern Trust, the partnership with Lumint strengthens its platform for currency hedging, including portfolio overlay, share class hedging and look-through hedging.
It also supports further innovations in hedging programme management and analytics to meet the evolving needs of global investors.
Northern Trust Global Foreign Exchange, part of Northern Trust Capital Markets, provides a liquidity, trading, transaction processing and outsourced FX solutions for institutional investors.
Northern Trust Capital Markets is a division of Corporate and Institutional Services, which provides asset servicing, fund administration and middle office solutions to institutional asset managers and asset owners around the globe.
John Turney, global head of foreign exchange at Northern Trust Capital Markets, said: “Northern Trust is committed to delivering best-in-class foreign exchange services and we are excited to announce this strategic partnership with Lumint for currency hedging.”
He added: “This enables us to offer a differentiated and innovative solution to our clients who are looking to delegate their hedging needs and benefit from our expertise, coupled with Lumint’s powerful tools and technology.”
Alex Dunegan, CEO of Lumint, commented: “Lumint is delighted to work with Northern Trust to support its clients in managing and hedging currency risk.”
He added: “Through our collaboration with Northern Trust, clients including asset managers and asset owners will benefit from process excellence, superior technology, transparency, analytics and sophisticated reporting on their currency overlay and FX programmes.”
