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Global Investments selects firms for emerging broker program
(December 15, 2009) Northern Trust has announced that its asset
management arm, Northern Trust Global Investments (NTGI), has selected
seven emerging and minority/women-owned broker-dealers for its list of
preferred equity trading partners.
The equity trading firms, which met selection criteria including
execution capabilities, technology platforms and capital commitment,
-- M.R. Beal and Company, Chicago, Ill.
-- Blaylock Robert Van Securities, LLC, Oakland, Calif.
-- Cabrera Capital Markets, LLC, Chicago
-- Guzman & Company, Coral Gables, Fla.
-- Loop Capital Markets, Chicago, Ill.
-- M. Ramsey King Securities, Inc., Burr Ridge, Ill.
-- Samuel A Ramirez & Company, Inc., New York, N.Y.
"We are pleased to maintain relationships with seven broker-dealers that
have the strength and expertise to become strategic trading partners
with Northern Trust," said Lyle Logan, executive vice president and
managing director of client servicing and sales at NTGI. "In addition to
best execution in particular markets, these firms demonstrate a
commitment to compliance and risk management that is important to
Northern Trust and our clients."
Equity trading partners were selected by NTGI executives from a group of
36 broker-dealers that responded to a request for information. Northern
Trust went through a similar process in 2007, and the firms selected
then were invited to rebid. Because fixed-income requires a larger
universe of trading partners to achieve liquidity and best pricing, NTGI
does not limit the number of firms it considers for fixed income
Northern Trust's diversity commitment also includes its Emerging
Managers Practice, which invests more than $4 billion across 46
investment strategies and 42 emerging-minority-owned investment
management firms through manager-of-manager programs. In corporate
procurement, the Supplier Diversity office seeks to ensure that Northern
Trust provides opportunities for minority, women and disabled business
owners and expands the use of diverse firms in the corporate supply
Northern Trust is committed to deepening its strategic relationships
with emerging and minority/women-owned broker-dealers. In 2008, Northern
Trust traded in excess of $40 billion worth of equity and fixed-income
securities with broker-dealers in the program, up from $30 billion in
Northern Trust Global Investments (NTGI) is the multi-asset class
investment management business of Northern Trust Corporation. NTGI
comprises Northern Trust Investments, N.A., Northern Trust Global
Investments Limited, Northern Trust Global Investments Japan, K.K., the
investment advisor division of The Northern Trust Company and Northern
Trust Global Advisors and its subsidiaries.