Northern Trust announced today it has introduced a new ad hoc query that gives clients access to more detailed information on the Terms and Conditions of Over the Counter (OTC) derivatives instruments.
Available to both asset managers and asset owners via Northern Trust’s multi-faceted online platform, Passport®, the new Holdings – Derivatives Detail query includes new data elements that are specific to the Terms and Conditions that define the trades for over the counter swaps, credit default swaps, options and swaptions.
With the new tool, clients can enrich information extracted from Northern Trust’s reporting platform with Terms and Conditions for derivatives that aids reconciliation. From there clients will be able to aggregate the data from the Terms and Conditions with other characteristics, and position level information to track their true exposure to underliers of the derivatives. This information can be combined with exposure to other counterparties and issuers to show the client’s full exposure picture.
‘Clients are seeking more transparency into complicated investments such as OTC derivatives,’ said Debra Clayton, client reporting product manager for Northern Trust. ‘We have developed this query to make it easier for them to analyze and reconcile their derivatives positions at Northern Trust and get a better picture of their overall exposure.’
