LONDON, October 24 /PRNewswire/ --

Northern Trust has become one of the first asset servicers to adopt the Financial Product Mark-up Language ("FpML") messaging format in processing over the counter ("OTC") derivative trades. As part of Northern Trust's move towards increasing automation and straight through processing ("STP") in OTC derivative trade processing, this format can be used for Northern Trust's clients across the globe.

FpML is a messaging format which automates the flow of information between an asset servicer like Northern Trust and its clients and operates independently of any underlying software or hardware infrastructure pertaining to derivative trades.

"The format enables us to accept and deliver new trade messages electronically and in a standard, replicated way," explains Stephen Andress, global head of derivatives processing at Northern Trust. "This increases automation ...   more »