Northern Trust has made a series of enhancements to its transfer agency product offering. The increased automation and straight through processing should give improved risk management.

The product, designed specifically for offshore clients, is being offered to asset managers in the UK, Ireland, Luxembourg and the Channel Islands.

The fee rebate module provides an automated and scaleable solution to support the calculation of management fees, agent trailer fees and register fee rebates. This change enables reporting to be generated automatically for delivery to clients, distribution agents and investors.

As part of Northern Trust's focus on increasing straight-through processing (STP) it has also implemented an interface with major message exchanges and fund distributors. By developing interfaces from Northern Trust's UK and offshore transfer agency systems with major distribution and message exchanges, the number of STP transactions is increased.

Northern Trust Corporation provides investment management, asset and fund administration, banking solutions and fiduciary services for corporations, institutions and affluent individuals worldwide. Northern Trust, a financial holding company based in Chicago, at June 30, 2009 had assets under custody of $3.2 trillion and assets under investment management of $558.9 billion.