US - Northern Trust has launched a tool to enable institutional clients monitor the impact of market events on their portfolios.

The Chicago-based bank said its new Event Analyst product was an “automated, investment-monitoring tool that allows clients to select and monitor distinct classes of marketplace events and their impact on institutional asset portfolios”.

The product is available worldwide for all existing institutional
custody clients of Northern Trust, said spokesman Richard Jurek. He added that it will be offered free of charge for just this year to gain client feedback and make changes. Northern would start charging for it in 2004, thought the prices have not yet been set.

The product lets users set volatility parameters and it automatically notifies clients via email when they have been violated.

“With Event Analyst, our goal is to help clients spend their time interpreting events, rather than running around gathering data,” added Matthew Tushman, Event Analyst product manager.

“Clients demand concise, relevant information they can use to make sound decisions related to market exposure and portfolio performance, all in the context of the larger marketplace.”