Northern Trust Hedge Fund Services (NTHFS) has collaborated with treasury solutions provider Hazeltree to launch a new service that will enable investment managers to keep track of their liquidity position and invest surplus cash.

The new service, dubbed Cash Optimization, will make use of rules-based cash optimisation platform Hazeltree Optimizer to manage cash across all currencies and counterparties.

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The platform will be integrated with Northern Trust’s FX and Liquidity Solutions Portal services to help managers monitor broker debit/credit cash positions and carry out FX trades.

It will offer users intraday cash activity and cash projection data from NTHFS to offer a view of cash positions.

Northern Trust said that the service will help it maintain target reserves and generate alpha.

NTHFS CEO Peter Sanchez said: “Cash Optimization is a significant step for investment managers looking to automate what has been a labor-intensive process of managing cash balances, liquidity investments and payments among a complex network of counterparties.

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“Our clients are looking for enhanced treasury and collateral functionality and Cash Optimization provides this by incorporating Hazeltree’s innovative technology in a solution hosted on our middle office platform.”

Hazeltree president and CEO Sameer Shalaby said: “We are pleased to collaborate with NTHFS on a solution that offers enhanced treasury functionality to help its clients meet requirements, minimize cash financing costs and invest excess cash in a rising interest rate environment.”