Northern Trust’s ITS service has had ongoing strong growth since 2023.
Northern Trust’s outsourced trading business, the Integrated Trading Solutions (ITS) service, has had ongoing strong growth, “with its client base increasing by nearly 17 percent from year-end 2023 to the end of the first quarter, 2025,” officials say. “The growth has been driven by an increase in demand for fixed income outsourced trading as well as asset managers looking to reduce costs in a challenging market environment.”
The growth in fixed income trading comes “from a multitude of different client profiles — ranging from traditional asset managers to hedge funds, public and corporate treasurers, and other asset owners,” officials say. “ITS fixed income trading volume quadrupled in the last three years in the U.S. while doubling in EMEA as clients looked to add exposure across investment grade and high yield credit, U.S. Treasuries, developed rates and emerging market debt, municipals, money markets, asset-backed and securitized products.”
“As we continue to expand, we’re committed to delivering tailored outsourced trading experiences that meet our clients’ needs,” says Amy Thorne, head of ITS, EMEA, for Northern Trust, in a prepared statement.
ITS offers global outsourced trading, encompassing multiple asset classes, to more than 80 markets. ITS has a global network of more than 450 brokers, including global firms and local specialists in equities, fixed income, and derivatives, officials say.
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