New tool streamlines corporate action and dividend event workflows for middle-office outsourcing

Northern Trust has launched Omnium Event Manager, a web-based workflow tool designed to provide asset managers and asset owners with a consolidated view of corporate action and dividend events affecting fund portfolios, enabling them to coordinate with brokers and custodians to respond effectively to the voluntary events.

Institutional investors with complex investment portfolios can face a high volume of corporate actions, ranging from dividends, stock splits, corporate restructures or acquisitions. Event Manager replaces the often manual workflow of monitoring and responding to corporate actions with a platform that includes tools for capture of event and position data, notifications and deadline publishing, and communication with counterparties. The one-stop solution reduces the time, energy and potential risk that accompanies the gathering of information and communicating across multiple web portals to connect with various counterparties.

“The asset servicing industry has struggled to achieve straight-through processing of corporate actions. Managers have traditionally had to manually monitor the effect of corporate actions on their portfolios,” said Dan Houlihan, Head of Asset Servicing, Americas at Northern Trust. “By digitizing this process on Omnium, our middle- and back-office technology platform, we’re empowering asset managers to further automate their middle-office operations.”

The Event Manager platform leverages global Omnium services to promote real-time positions, referential data, event details, and workflow and Swift messaging integration. The Event Manager platform also includes capabilities such as:

• Interactive dashboard engagement and event forecasting
• Automated alerts and notification suite
• Previewing and sending of instructions to counterparties
• Previewing and posting of entitlements
• Automated counterparty mapping

Omnium is an industry leading platform used to provide administration and middle-office services for alternative fund managers and institutional investors with complex portfolios. Its extensive asset servicing solutions support a diverse range of asset classes and investment strategies, providing integrated middle-office capabilities from the point of trade capture through to investor statements around a single set of books and records.

About Northern Trust

Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking to corporations, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has a global presence with offices in 22 U.S. states and Washington, D.C., and across 22 locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of March 31, 2021, Northern Trust had assets under custody/administration of US $14.8 trillion, and assets under management of US $1.4 trillion. For more than 130 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity and innovation. Please visit our website or follow us on Twitter.

Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A., incorporated with limited liability in the U.S. Please read our global and regulatory information.

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