Northern Trust’s Outsourced Trading Sees 17% Growth Fueled by Fixed Income Demand

Northern Trust’s Integrated Trading Solutions (ITS) reported a nearly 17% expansion in its client base from year-end 2023 through Q1 2025, driven by surging demand for fixed income outsourced trading. Asset managers are increasingly leveraging the platform to streamline costs amid volatile market conditions.

ITS has quadrupled U.S. fixed income trading volumes over three years, with EMEA activity doubling. Clients span hedge funds, corporate treasurers, and asset managers seeking exposure to credit, sovereign debt, and securitized products. The platform provides 24/6 coverage across 80+ markets via a network of 450+ brokers.

"Being pioneers in custodian-led outsourced trading, we’re seeing unprecedented adoption," said Amy Thorne, Head of ITS for EMEA. The service now supports cross-asset execution including derivatives and equities alongside its Core fixed income strength.