London, June 19, 2019 – State Street Corporation (NYSE: STT), one of the world’s leading providers of financial services to institutional investors, today announced that it is ranked industry-leading in several categories by Euromoney Magazine’s annual list of global banks providing foreign exchange services. The ranking, now in its 41st year, is the most comprehensive quantitative and qualitative annual study available on the foreign exchange markets.
State Street’s foreign exchange business was recognized in several categories, including:
- No. 1 in Real Money (for the second consecutive year)
- No. 1 in Customer Satisfaction Globally with Real Money and Leveraged Funds
- Ranked 6th largest foreign exchange provider globally (up from 10th in 2018)
- No. 3 for Leveraged Funds globally (for the second consecutive year)
- In E-Trading, State Street moved to 6th overall (up from 10th in 2018)
Additionally, GlobalLink, State Street’s suite of e-trading platforms, technology, data and workflow solutions’ surpassed the table leader with its largest market share on record. In particular, FX Connect, State Street’s FX execution venue that helps firms efficiently manage multiple portfolios, connect with brokers and streamline global operations, maintained its number two position as a leader in multi dealer platform rankings with a 10 percent increase in market share, from 19 percent to 28 percent. Currenex, State Street’s technology provider that offers the FX community high-performance technology and deep pools of liquidity for anonymous and disclosed trade execution, also doubled its market share to improve its position from No. 8 to No. 4.
“For years, State Street has helped bring market-leading technology, liquidity and research to service the needs of our clients,” said Tony Bisegna, global head of multi-asset class trading and research, State Street Global Markets. “The improvements in this year’s rankings illustrate the value our clients are deriving from our continued investment and our commitment to bringing the best possible foreign exchange services to institutional investors. We are very proud of this recognition and to continue building on our strong market position”
“These fantastic results for FX Connect and Currenex demonstrate our commitment in investing in our technology as trading styles and regulatory requirements evolve,” said Martine Bond, head of GlobalLink. “We are focused on providing innovative, value-added solutions for our clients and through acquisitions such as BestX® in 2018, we’re delivering a market-leading automated FX trading solution.”
State Street provides specialized investment research and trading in foreign exchange, equities, fixed income and derivatives. Learn more about State Street’s foreign exchange offerings and the GlobalLink platforms, FX Connect and Currenex.
About State Street Corporation
State Street Corporation (NYSE: STT) is one of the world's leading providers of financial services to institutional investors, including investment servicing, investment management and investment research and trading. With $32.643 billion in assets under custody and administration and $2.805 billion* in assets under management as of March 31, 2019, State Street operates globally in more than 100 geographic markets and employs approximately 40,000 worldwide. For more information, visit State Street's website at www.statestreet.com.
*Assets under management include the assets of the SPDR® Gold ETF and the SPDR® Long Dollar Gold Trust ETF (approximately $33 billion as of March 31, 2019), for which State Street Global Advisors Funds Distributors, LLC (SSGA FD) serves as marketing agent; SSGA FD and State Street Global Advisors are affiliated.