FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person *   Cherecwich Peter 2. Date of Event Requiring Statement (Month/Day/Year) 07/15/2014 3. Issuer Name and Ticker or Trading Symbol NORTHERN TRUST CORP [NTRS] (Last) (First) (Middle) 50 SOUTH LASALLE STREET 4. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) EVP, Global Fund Services 5. If Amendment, Date Original Filed(Month/Day/Year) (Street) CHICAGO, IL 60603 6. Individual or Joint/Group Filing(Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Beneficially Owned

1.Title of Security (Instr. 4) 2. Amount of Securities Beneficially Owned (Instr. 4) 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 4. Nature of Indirect Beneficial Ownership (Instr. 5) Common Stock (1) 19,082 D   Common Stock 10,935 D Â

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.			SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Employee Stock Option (right-to-buy)	  (2)	02/13/2022	Common Stock	11,455	$ 43.65	D	Â
Employee Stock Option (right-to-buy)	  (3)	02/11/2023	Common Stock	7,331	$ 52.69	D	Â
Employee Stock Option (right-to-buy)	  (4)	02/10/2024	Common Stock	6,348	$ 60.85	D	Â
Employee Stock Option (right-to-buy)	  (5)	02/16/2019	Common Stock	12,638	$ 55.39	D	Â
Employee Stock Option (right-to-buy)	  (6)	02/19/2018	Common Stock	5,792	$ 71.23	D	Â
Employee Stock Option (right-to-buy)	  (7)	07/17/2017	Common Stock	4,419	$ 67.89	D	Â
Employee Stock Option (right-to-buy)	  (8)	02/14/2021	Common Stock	11,399	$ 52.64	D	Â
Employee Stock Option (right-to-buy)	  (9)	02/15/2020	Common Stock	11,768	$ 50.99	D	Â

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
Cherecwich Peter 50 SOUTH LASALLE STREET CHICAGO, IL 60603	Â	Â	  EVP, Global Fund Services	Â

Signatures

Darren C. Baker, Attorney-in-Fact for Peter B. Cherecwich		07/25/2014
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 5(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	Represents stock units payable automatically on a 1-for-1 basis in shares of the Corporation's common stock.
(2)	This option became exercisable in four equal annual installments beginning 2/13/2013.
(3)	This option became exercisable in four equal annual installments beginning 2/11/2014.
(4)	This option will become exercisable in four equal annual installments beginning 2/10/2015.
(5)	This option became exercisable in four equal annual installments beginning 2/16/2010.
(6)	This option became exercisable in four equal annual installments beginning 2/19/2009.
(7)	This option became exercisable in four equal annual installments beginning 7/17/2008.
(8)	This option became exercisable in four equal annual installments beginning 2/14/2012.
(9)	This option became exercisable in four equal annual installments beginning 2/15/2011.

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