Northern Trust has automated processing of the full trade settlement lifecycle for syndicated bank loans through integration with IHS Markit’s ClearPar Custodian Services Messaging capability. Designed to deliver trade data in a standardised format via secured communications, this service increases scalability and efficiency while reducing the risks inherent in a manual trade settlement process.
The new solution enables Northern Trust to map critical trade and funding information seamlessly into its proprietary bank loan servicing platform, thereby providing digital access to all parties in a transaction. Key transaction data, including settlement date, settlement amounts and wire instructions, is streamlined and communicated electronically, allowing Northern Trust to seamlessly accommodate the triple digit trade volume increase it has experienced in the last five years.