UK asset manager Liontrust Asset Management is exploring outsourcing parts of its trading to BNY, according to an update released this morning.
Liontrust and BNY declined to comment when reached out to by The TRADE.
While it is not yet confirmed what the final agreement will be, it appears the setup will be focused on covering non-UK activity.
“As part of our ongoing commitment to enhancing operational efficiency, it is proposed to deepen our strategic relationship with BNY by using its Buyside Trading Solutions for our trading capabilities,” said Liontrust in a trading update released on Wednesday.
“This collaboration will allow us to extend our trading capabilities beyond UK trading hours and access more counterparties, with a solution that is scalable and with a partner that is investing heavily in its trading services to ensure that it remains cutting edge.”
Liontrust was awarded the Multi-Asset Trading Desk of the Year and Mid-Cap Trading Desk of the Year by The TRADE in 2022 and 2017 respectively. Liontrust’s multi-asset desk was also nominated for the Multi-Asset Trading Desk of the Year at Leaders in Trading 2024.
Read more – BNY’s Rebecca Crowe talks outsourced trading
Once finalised, the asset manager would join a growing list of firms that have turned to outsourced trading providers in the last 12 months to manage some or all of their trading activities.
Most recent was news in December that Avanza Fonder had outsourced to Northern Trust. In October, UK-based asset manager Artemis selected Northern Trust to provide outsourced trading services for its equities and derivatives activity, effective January 2025.
BNY itself won a major deal in March 2024 when it agreed to deliver Goldman Sachs Asset Management global trade execution services in EMEA, the US and APAC markets across fixed income, FX, derivatives and ETFs.