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

CHICAGO--(BUSINESS WIRE)--Northern Trust (Nasdaq: NTRS) is a proud 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 etf.com.¹ 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.²

"Partnering with Northern Trust to outsource our trading operations has allowed us to quickly grow our business,” said Leland Clemons, Founder of BondBloxx. “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.”

"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,” said Stephanie Farrell, Head of Integrated Trading Solutions, Americas at Northern Trust Capital Markets. “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.

About BondBloxx

BondBloxx Investment Management Corporation (“BondBloxx”), a registered investment adviser, is the first ETF issuer focused solely on addressing the needs of fixed income investors. BondBloxx only transacts business in states where it is properly registered or is excluded or exempted from registration requirements. BondBloxx seeks to design and launch ETFs that offer precise market exposures to fixed income asset classes. To learn more about BondBloxx's fixed income-first mission, visit BondBloxxETF.com.

About Northern Trust

Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking to corporations, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has a global presence with offices in 25 U.S. states and Washington, D.C., and across 23 locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of March 31, 2023, Northern Trust had assets under custody/administration of US$14.2 trillion, and assets under management of US$1.3 trillion. For more than 130 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity and innovation. Visit us on northerntrust.com. Follow us on Twitter @NorthernTrust or Northern Trust Corporation on LinkedIn.

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/terms-and-conditions.

¹ Source: etf.com, 5/2/23.
² Source: Bloomberg, 3/31/23.