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Trading Technology

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Leslie Kramer, Contributing Writer
Leslie Kramer, Contributing Writer
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Northern Trust Global Investment Focuses on New Government Regulations and Electronic Technology

Kevin Connellan, director of equity trading, shares his concerns about the downsizing of the high-touch trading desk by sell-side partners.

Northern Trust Global Investment
Kevin Connellan
Director of Equity Trading

Northern Trust Global Investment
50 South LaSalle St.
Chicago, IL 60603

Assets under management:

$640 million.

Fund(s) for which you trade:

We trade for The Northern Trust family of mutual funds that include small cap, mid cap, large cap and core/blend. We also trade for our Personal Trust portfolio managers.

Types of products traded:

The products we specifically trade on the Active Desk are domestic equities, ADRs, ETFs and options.

Daily volume in equities:

Our volume on the active equity desk is running about $4 million shares a day.

Structure of trading department:

All told, we have four separate desks trading equities. In Chicago, we have two desks: the active equity desk and a quant desk that specializes in enhanced equity-index products, tax-advantaged strategies and transition trading. In New York, our desk trades index products for domestic, developed and emerging markets. In addition, they also trade futures and currencies. Overseas, we have a growing London desk that trades similar products to New York with a heavy focus on the U.K., Europe and the Far East, along with International Transition capability.

Previous Positions:

This is my first time on the buy side with Northern Trust. Prior to that I was on the sell side with Schroder & Company, as director of institutional equity trading for the Midwest region. I held similar positions with Drexel Burnham Lambert and Blythe Eastman Dillon. My first job was on the floor of the NYSE working for the exchange itself and later with specialist firm Albert Freed and Co.


Belvedere College in Ireland. I studied business administration.

Vision for the Future

Today, buy-side traders are actively working trades themselves, so the skill level for all these traders is going to increase. The demand for more-skillful traders and the demand for more personnel is going to increase. As the sell side downsizes and offers more electronic platforms, we will be increasing our staff here to deal with that.

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