Northern Trust announced an exclusive partnership with BEx LLC, a leading provider of software solutions in the financial technology sector, to deliver innovative foreign exchange (FX) solutions to meet the growing needs of its clients as they evolve their trading strategies and require access to increasingly sophisticated support and expertise.
Under the new arrangement, Northern Trust will continue to collaborate with BEx to develop customized FX software, including components used in Northern Trust’s advanced electronic FX trading platform. BEx’s software has enabled Northern Trust to drive further automation and support clients with customized trade execution and enhanced transparency and trading efficiency.
“The FX market is evolving rapidly and Northern Trust is committed to being at the forefront of eCommerce developments. It’s critical to have the advanced technology and expertise available to execute FX trades as efficiently as possible, while reducing transaction costs for our clients,” said William Huber, head of Global FX at Northern Trust. “With this partnership, we now have exclusive access to BEx products, providing a key differentiator for us in the marketplace. This enables us to deliver an increasingly highly competitive suite of FX products to meet the evolving challenges of our clients.”
Headquartered in Chicago and established in 2013, BEx is a financial technology software firm dedicated to developing automated FX trading solutions. In a fast-changing FX environment, BEx’s focus is on ensuring that Northern Trust has the ability to customize its offering to meet both client and regulatory requirements.
“BEx is proud to work closely with Northern Trust’s Capital Markets group to help its clients effectively execute electronic FX trades,” said Patrick Hourihane, BEx CEO. “We are collaborating with Northern Trust to develop a software roadmap with the goal of continuing to improve the speed, reliability, and performance of its FX trading system.”