New Division Combines Firm’s Award-Winning Execution and Post-trade Platforms (FXConnect, Currenex and TradeNeXus) into a single, integrated workflow utility for the FX trading community.
BOSTON, November 1, 2021 – State Street Corporation today announced its GlobalLink Division will combine its award-winning execution and post-trade platforms of FXConnect, Currenex and TradeNeXus into a single platform called GlobalLink FX.
Bringing the three business together will result in significant benefits for clients including FXConnect Market Monitor, an improved price discovery tool for FXConnect buy-side clients. This enhancement will utilize Currenex streaming price feeds and market data in order to provide clients with a curated view of their liquidity providers, driving better decision making and execution outcomes.
“All three of these platforms have been core components of our broad multi-asset class solutions we offer to clients, and I am thrilled that our FX businesses will be aligning so we can further leverage the best of the platforms and deliver next-gen FX execution solutions,” said Martine Bond, head of global markets EMEA at State Street.
In an effort to streamline the GlobalLink FX offering, State Street also announced that the Currenex MTF platform will be closing in April 2022 in favour of operating a single GlobalLink MTF for regulated activity.
Beverley Doherty, co-head of FX Connect, Currenex and TradeNeXus emphasizes that “GlobalLink FX will enable State Street to capitalize on the collective strengths of our award-winning platforms in order to provide the firm’s clients with an integrated execution and workflow solution, catering to the evolving needs of the FX industry.”
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 $43.3 trillion in assets under custody and/or administration and $3.9 trillion* in assets under management as of September 30, 2021, State Street operates globally in more than 100 geographic markets and employs approximately 39,000 worldwide. For more information, visit State Street's website at https://clicktime.symantec.com/37LknYz4gqpX2d1pCK4B9T87Vc?u=www.statestreet.com.
*Assets under management as of September 30, 2021 includes approximately $60 billion of assets with respect to SPDR® products for which State Street Global Advisors Funds Distributors, LLC (SSGA FD) acts solely as the marketing agent. SSGA FD and State Street Global Advisors are affiliated.