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 *   Cohodes Jeffrey D. 2. Date of Event Requiring Statement (Month/Day/Year) 03/01/2011 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) Executive Vice President/HORM 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) 24,375 D   Common Stock 9,244 D   Common Stock 3,988.33 (2) I 401(k)

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)	  (3)	05/21/2011	Common Stock	1,468	$ 68.105	D	Â
Employee Stock Option (right-to-buy)	  (3)	05/21/2011	Common Stock	8,532	$ 68.105	D	Â
Employee Stock Option (right-to-buy)	  (4)	02/19/2012	Common Stock	2,500	$ 53.655	D	Â
Employee Stock Option (right-to-buy)	08/19/2002	02/19/2012	Common Stock	1,454	$ 53.655	D	Â
Employee Stock Option (right-to-buy)	  (5)	05/20/2012	Common Stock	1,913	$ 52.3	D	Â
Employee Stock Option (right-to-buy)	  (5)	05/20/2012	Common Stock	7,087	$ 52.3	D	Â
Employee Stock Option (right-to-buy)	  (6)	02/18/2013	Common Stock	3,066	$ 32.615	D	Â
Employee Stock Option (right-to-buy)	  (6)	02/18/2013	Common Stock	6,934	$ 32.615	D	Â
Employee Stock Option (right-to-buy)	08/18/2003	02/18/2013	Common Stock	2,208	$ 32.615	D	Â
Employee Stock Option (right-to-buy)	  (7)	02/17/2014	Common Stock	15,000	$ 49.12	D	Â
Employee Stock Option (right-to-buy)	03/31/2005	02/15/2015	Common Stock	15,000	$ 44.465	D	Â
Employee Stock Option (right-to-buy)	  (8)	02/21/2016	Common Stock	12,954	$ 52.095	D	Â
Employee Stock Option (right-to-buy)	  (9)	02/20/2017	Common Stock	9,470	$ 63.36	D	Â
Employee Stock Option (right-to-buy)	  (10)	02/19/2018	Common Stock	9,477	$ 71.23	D	Â
Employee Stock Option (right-to-buy)	  (11)	02/16/2019	Common Stock	16,610	$ 55.39	D	Â
Employee Stock Option (right-to-buy)	  (12)	02/15/2020	Common Stock	13,533	$ 50.99	D	Â
Employee Stock Option (right-to-buy)	  (13)	02/14/2021	Common Stock	21,372	$ 52.64	D	Â

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
Cohodes Jeffrey D. 50 SOUTH LASALLE STREET CHICAGO, IL 60603	Â	Â	  Executive Vice President/HORM	Â

Signatures

Paul A. Bernacki, Attorney-in-Fact for Jeffrey D. Cohodes		03/09/2011
**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)	as of 3/1/11
(3)	This option became excercisable in three annual installments beginning 5/21/2002.
(4)	This option became excercisable in three annual installments beginning 2/19/2003.
(5)	This option became excercisable in three annual installments beginning 5/20/2003.
(6)	This option became excercisable in three annual installments beginning 2/18/2004.
(7)	This option became excercisable in four annual installments beginning 2/17/2005.
(8)	This option became excercisable in four annual installments beginning 2/21/2007.
(9)	This option became excercisable in four annual installments beginning 2/20/2008.
(10)	This option became excercisable in four annual installments beginning 2/19/2009.
(11)	This option became excercisable in four annual installments beginning 2/16/2010.
(12)	This option became excercisable in four annual installments beginning 2/15/2011.
(13)	This option became excercisable in four annual installments beginning 2/14/2012.

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