Northern Trust (NASDAQ: NTRS) announced today an exclusive partnership with BEx LLC, a leading provider of software solutions in the financial technology sector, to deliver innovative foreign exchange (FX) solutions to meet the growing needs of its clients as they evolve their trading strategies and require access to increasingly sophisticated support and expertise.

Under the new arrangement, Northern Trust will continue to collaborate with BEx to develop customized FX software, including components used in Northern Trust’s advanced electronic FX trading platform. BEx’s software has enabled Northern Trust to drive further automation and support clients with customized trade execution and enhanced transparency and trading efficiency.

“The FX market is evolving rapidly and Northern Trust is committed to being at the forefront of eCommerce developments. It’s critical to have the advanced technology and expertise available to execute FX trades as efficiently as possible, while reducing transaction costs for our clients,” said William Huber, head of Global FX at Northern Trust. “With this partnership, we now have exclusive access to BEx products, providing a key differentiator for us in the marketplace. This enables us to deliver an increasingly highly competitive suite of FX products to meet the evolving challenges of our clients.”

Headquartered in Chicago and established in 2013, BEx is a financial technology software firm dedicated to developing automated FX trading solutions. In a fast-changing FX environment, BEx’s focus is on ensuring that Northern Trust has the ability to customize its offering to meet both client and regulatory requirements.

“BEx is proud to work closely with Northern Trust’s Capital Markets group to help its clients effectively execute electronic FX trades,” said Patrick Hourihane, BEx CEO. “We are collaborating with Northern Trust to develop a software roadmap with the goal of continuing to improve the speed, reliability, and performance of its FX trading system.”

About BEx

BEx LLC is a leading provider of software solutions in the financial technology sector.

BEx was founded in 2013 with a view to providing large financial institutions access to the global foreign exchange markets with a primary focus on efficient execution in the spot, forwards and swaps market. In the last three years, BEx has grown and broadened its offering significantly.

About Northern Trust

Northern Trust Corporation (NASDAQ: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking to corporations, institutions, and affluent families and individuals. Founded in Chicago in 1889, Northern Trust has offices in the United States in 19 states and Washington, D.C., and 22 international locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of June 30, 2016, Northern Trust had assets under custody of US$6.4 trillion, and assets under management of US$906 billion. For more than 125 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity and innovation. Visit northerntrust.com or follow us on Twitter @NorthernTrust.

Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A., incorporated with limited liability in the U.S. Global legal and regulatory information can be found at https://www.northerntrust.com/disclosures.