Northern Trust

GCF spoke to Penelope Biggs, Head of Institutional Investor Group - EMEA at Northern Trust, on the key custody trends we can expect to see in 2016, at the 2015 Global Custody Forum in London.

Northern Trust surprised its competitors by announcing how it would manage the transition to T2S a good nine months before the first markets joined the new settlement platform on 22 June 2015. Its solution was a practical one, which recognizes the fact T2S is essentially a settlement platform. It combines direct access to T2S settlement services, with a single asset-servicing agent. To access central bank money at the ECB, Northern Trust is using its full bank branch in Luxembourg to enter the euro-system via the Banque Centrale du Luxembourg.

Service providers predict there will be a significant increase in shadow fund administration at hedge funds amid growing pressure from institutional investors.