Northern Trust has added product automation and straight-through processing capabilities to its Hedge Fund Monitor product, which is designed for fund-of-hedge-fund clients.

The automation updates allow Northern Trust clients to enter multiple trades on a single screen, including multiple trades on a single portfolio, and to instruct a single trade and allocate it across multiple portfolios.

“Subject to terms and conditions, this allows a client to switch hedge fund investments between multiple portfolios without necessarily having to declare each switch to the market,” Northern Trust said.

The firm also said the registration process enables clients to switch hedge fund investments without incurring difficulties with capacity such as lock-ups and gates.

Other added features to Hedge Fund Monitor, according to Northern Trust, include: the ability for clients to view their quickest and most cost-effective liquidity option at any time; on-screen lot level liquidity details, allowing clients to see the various stages of liquidity in their portfolios.