Northern Trust bought Omnium, Citadel’s hedge fund administration business, from the electronic trading giant in 2011. At the time, it licensed the middle- and back-office technology at the firm—which is now called Northern Trust Hedge Fund Services—from Citadel, but it did not bring the development team or software rights in-house.
Peter Cherecwich, president of Northern Trust Corporate and Institutional Services, says the Omnium technology team has been critical to the success of Northern
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