Northern Trust has collaborated with Lukka to add a digital asset reporting function to its services.
Lukka supplies data infrastructure, software and analytical tools for institutions dealing with digital assets
Its systems are built to help firms collect, standardise, match and report data tied to complex activity both on-chain and off-chain. The company’s platform is used for a range of tasks, including data administration, reporting, valuation, compliance and risk processes. The new function is intended to give clients broader reporting on digital asset information, including transaction records and point-in-time balances with historical reference points, noted Lukka.
Northern Trust digital and financial markets strategic partnerships group head Justin Chapman said: “Clients are seeking a more streamlined and institutional approach to managing and reporting on their digital asset exposures. “This relationship with Lukka allows us to deliver a critical capability, bringing together digital and traditional asset reporting, while continuing to build toward a more comprehensive, interoperable and connected digital asset servicing model.” According to the companies, the service is being introduced as institutions seek scalable reporting tools for digital asset activity. As part of the agreement, Northern Trust will use Lukka’s platform to connect with more than 100 blockchains and over 400 centralised exchange (CEX) and decentralised exchange (DEX) sources, as well as custodians, OTC desks, wallets and on-chain activity. The arrangement is expected to support the intake of wallet, balance and transaction information, while enabling digital asset reporting at scale through standardised data aggregation and normalisation across a wide network of blockchain systems and digital asset service providers.