Northern Trust Buys Omnium Technology Development from Citadel

The deal is expected to close in the first half of 2018.


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 Tru

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