Northern Trust Strengthens OTC Derivative Services

CHICAGO - Enhanced post-trade processing including reconciliation and confirmation services

Northern Trust announced today that it has strengthened its global platform for over-the-counter (OTC) derivatives processing through an agreement with Markit, a financial information services company, to enhance post-trade processing including reconciliation and confirmation services for OTC derivatives.

The agreement will deliver best in breed service capabilities for OTC derivatives to Northern Trust custody and Investment Operations Outsourcing clients through an integrated derivatives processing platform. The enhanced capabilities extend Northern Trust’s core platform for daily processing and lifecycle management, Misys Summit FT, a leading OTC derivative processing application offered by Misys.

“We are committed to helping our clients reduce operational risk throughout the post-trade lifecycle,” said Peter Cherecwich, chief operating officer for Corporate & Institutional Services at Northern Trust. “The addition of Markit’s confirmation matching and reconciliation services will allow us to provide them with greater transparency and efficiency after the point of trade.”

Markit will provide trade confirmation and position reconciliation services through its Trade Manager, PortRec, and Valuations Manager platforms in addition to independent portfolio valuations. Northern Trust expects to roll out these services in the second and third quarter this year.

Markit Trade Manager offers electronic tie-out, affirmation and confirmation workflow tools including straight-through-processing connectivity to DTCC DerivSERV and Markit Wire, along with paper confirmation workflow, novation consent and allocation.

Markit PortRec is an automated position reconciliation service that will allow Northern Trust to reconcile positions with counterparties electronically. It was named ‘Industry Platform of the Year’ by Risk Magazine in 2008. Markit Valuations Manager provides normalized and consolidated delivery of global counterparty OTC positions and valuations from participating banks.

“We are excited about expanding our relationship with Northern Trust, one of the industry’s most innovative firms,” said Shane Akeroyd, executive vice president at Markit. “We look forward to working with Northern Trust to help them and their clients benefit from our extensive connectivity to market participants across electronic position reconciliation, valuations and trade processing services.”

This service offering is part of a multi-year strategic investment Northern Trust is making in its derivative product servicing and reporting capability.

About Northern Trust

Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of investment management, asset and fund administration, fiduciary and banking solutions for corporations, institutions and affluent individuals worldwide. Northern Trust, a financial holding company based in Chicago, has a network of 85 offices in 18 U.S. states and has international offices in 15 locations in North America, Europe, the Middle East and the Asia-Pacific region. As of March 31, 2009, Northern Trust had assets under custody of US$2.8 trillion, and assets under investment management of US$522.3 billion. Northern Trust, founded in 1889, has earned distinction as an industry leader in combining exceptional service and expertise with innovative products and technology. For more information, visit www.northerntrust.com.

Northern Trust operates in Australia as a foreign authorised deposit-taking institution (foreign ADI) and is regulated by the Australian Prudential Regulation Authority.

Northern Trust in Hong Kong is a securities company regulated by the Securities and Futures Commission.

Northern Trust in Singapore is a foreign wholesale bank regulated by the Monetary Authority of Singapore.

Northern Trust operates in China as a Representative Office and is regulated by the China Banking Regulatory Commission.

Northern Trust (Guernsey) Limited, Northern Trust Fiduciary Services (Guernsey) Limited, Northern Trust Fiduciary Company (Guernsey) Limited and Northern Trust International Fund Administration Services (Guernsey) Limited are licensed by the Guernsey Financial Services Commission.

Northern Trust International Fund Administrators (Jersey) Limited and Northern Trust Fiduciary Services (Jersey) Limited are regulated by the Jersey Financial Services Commission.

Northern Trust Global Services is authorised and regulated in the Netherlands by De Nederlandsche Bank.

Northern Trust Global Services Limited Luxembourg Branch is authorised and regulated by the Financial Services Authority and in Luxembourg by the Commission de Surveillance du Secteur Financier (CSSF) and Northern Trust Luxembourg Management Company S.A. is regulated by the CSSF.

Northern Trust Global Services Limited - Abu Dhabi. Representative Office, Licence number 13/238/2008.

Where Northern Trust’s UK entities undertake regulated business, they are authorised and regulated in the United Kingdom by the Financial Services Authority.

Northern Trust International Fund Administration Services (Ireland) Limited and Northern Trust Fiduciary Services (Ireland) Limited are each authorised by the Irish Financial Services Regulatory Authority pursuant to section 10 of the Investment Intermediaries Act, 1995 (as amended).

The Northern Trust Company operates in Canada as The Northern Trust Company, Canada Branch which is an authorized foreign bank branch under the Bank Act (Canada). Trustee related services in Canada are provided by the wholly owned subsidiary The Northern Trust Company, Canada, an authorized trust company under the Trust & Loans Companies Act (Canada). Deposits with The Northern Trust Company and its affiliates and subsidiaries are not insured by the Canada Deposit Insurance Corporation.

About Markit

Markit is a financial information services company with more than 1,200 employees in Europe, North America and Asia-Pacific. Over 1,500 financial institutions use our independent services to manage risk, improve operational efficiency and meet regulatory requirements. For more information, see www.markit.com.

Source: Northern Trust Corporation

EMEA, Camilla Greene, +44(0)20-7982-2176, cg81 at ntrs.com; or North America & Asia-Pacific, John O’Connell, +1-312-444-2388, jo45 at ntrs.com, or Kathleen Fitzgerald, +1-312-444-3094, kdf2 at ntrs.com, all of Northern Trust