ETFs: Northern Trust’s Outsourced Trading Supports BondBloxx’s Fixed Income ETF Business

Northern Trust (Nasdaq: NTRS) is a provider of outsourced trading services to BondBloxx, an issuer of precision fixed income ETFs who recently surpassed $1 billion in assets under management and was also awarded “New ETF Issuer of the Year for 2022” by

BondBloxx, the first ETF issuer that is solely “focused on fixed income, a growing segment for outsourced trading, has continued to grow the number of funds that trade through Northern Trust’s Integrated Trading Solutions (ITS) service.”

Leveraging ITS to enhance its access to the bond market, BondBloxx “adds connectivity to many institutional liquidity counterparties while benefitting from the backing of Northern Trust’s highly experienced and deep fixed income trading team.”

Fixed income ETFs have “netted inflows of $52 billion through the end of the first quarter, representing 66% of total ETF flows over that period, as investors continued to reallocate significant portions of their portfolios to fixed income due to attractive yields and continued economic uncertainty.”

Leland Clemons, Founder of BondBloxx, said:

“Partnering with Northern Trust to outsource our trading operations has allowed us to quickly grow our business. We have gained access to asset class and markets expertise without having to scale an internal trading infrastructure, which allows us to focus on enhancing the product mix and investment insights we offer to our clients.”

Stephanie Farrell, Head of Integrated Trading Solutions, Americas at Northern Trust Capital Markets, said:

“Our partnership with BondBloxx has been highly effective, allowing them to improve their flexibility and liquidity while expanding access to markets, which is crucial to their growth trajectory. ITS can support multiple types of asset managers, including long-only, fixed income and alternative, and we look forward to continuing to support BondBloxx as they grow.”

Northern Trust’s outsourced trading capability “combines worldwide trading expertise in equities and fixed income across global markets, coverage from multiple trading locations, access to high-quality liquidity and a fully integrated middle and back-office service.”

ITS helps asset owners and asset managers “to meaningfully lower costs, reduce risk, manage regulatory compliance, and enhance transparency and operational efficiency.”

Northern Trust continually “innovates and invests in technology in support of its clients, delivering a differentiated approach to trading that includes Integrated Trading Solutions, offered through Institutional Brokerage.”

Both are “part of Northern Trust Capital Markets, which also provides foreign exchange, securities lending and transition management services.”

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