Counterparty Cleansing at Northern Trust Facilitates Improved Access to Data for Custody Clients
The group has cleansed all data on legacy over-the-counter derivatives positions, going back to clients and investment managers to validate and enhance counterparty data. Northern Trust has also normalized how all OTC derivatives data can be delivered to it for processing, accepting common formats including FpML, XML and CSV.
This process has enabled the firm to expand the scope of its securities exposure reporting for clients to include counterparty data for OTC derivatives contracts. The data
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