Northern Trust will offer portfolio management, order and execution management system (OEMS), and analytics capabilities to clients through a new arrangement with Enfusion Inc., a provider of cloud-native investment management software and services.
Through the collaboration, the two companies will offer buy-side clients a fully integrated, end-to-end solution that aims to streamline workflows. The partnership is part of Northern Trust’s Whole Office strategy, which is designed to provide integrated products, services and technology across the front, middle and back office.
“With our Whole Office strategy, a key objective is to develop solutions for our clients,” says Marc Mallett, Global Head of Whole Office Strategy at Northern Trust. “The components of those solutions are not always going to be Northern Trust-branded capabilities, so we look for partners that can help our clients either address issues or take advantage of opportunities. Enfusion is a leading provider in the order management systems space, and a growing number of our clients are using them, so formalising our existing relationship will allow us to better support our mutual clients.”
The alliance will deliver mutually supported interfaces between the Enfusion platform and Northern Trust’s core asset servicing platforms, with the aim of expediting implementations, improving data access, and, ultimately, increasing operational efficiency.
“We’re focused on the key integration points, ensuring that our systems are well connected with Enfusion,” says Mallett. “Regardless of whether we are providing hedge fund administration services, outsourced middle office or outsourced trading services, we want to ensure that the process of integration with Enfusion is as smooth as possible.”
Building on the alliance, Enfusion has also co-developed a certified, mutually supported interface with Northern Trust partner Equity Data Science (EDS), which is used by several joint clients. EDS offers a cloud-based platform that provides applications and decision-making tools to asset managers and hedge funds across the investment lifecycle, including idea generation, research management, portfolio construction, risk management and performance attribution.
Says Mallett: “We’re really excited about how the EDS business has grown since we announced our investment, both their core business and our relationship with them. A number of existing EDS clients also use Enfusion, so the three firms have worked together to develop a certified interface between Enfusion and EDS, to make integration, onboarding and ongoing support for joint clients as seamless as possible. EDS is democratising access to data science capabilities, by consolidating things like portfolio construction, research, management and risk. When you add the power of data from Northern Trust and Enfusion to this incredibly capable platform, portfolio managers and analysts are able to make their investment decisions without having to worry about where the data is coming from, or whether it is timely or accurate. That is all addressed through these interfaces.”