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Trading

Northern Trust brings BEx under its wing

Northern Trust on Tuesday announced it acquired foreign exchange software provider BEx.

Terms were not disclosed.

Prior to the acquisition, Northern Trust had worked with BEx on technology for automated trade execution.

BEx will operate as part of Northern Trust's global foreign exchange unit, within its capital markets business. The BEx brand will not be retained, said a Northern Trust spokesman.

Key BEx technology and development staff will join Northern Trust, the spokesman said.

Further details weren't disclosed.