FX Connect Announces New Product Enhancements to meet Clients’ Needs
BOSTON & LONDON, 13 February 2019 — State Street Corporation (NYSE: STT) announced today that FX Connect®, its market-leading FX execution venue that helps firms efficiently manage multiple portfolios, connect with brokers and streamline global operations, is enhancing its trading technology to provide a more agile and innovative platform for its clients.
“In today’s highly competitive environment where firms face increased complexity and regulatory requirements, it’s vital that we work with our clients to shape our product and solution strategy,” said Beverley Doherty, global head of FX Connect. “Our new enhancements will be instrumental in helping us accomplish this goal, demonstrating FX Connect’s ability to innovate and improve products that create solutions for our clients’ evolving needs.”
FX Connect’s full range of enhancements includes:
- FX Connect GUI. Through a complete transformation using HTML5, FX Connect is creating a trading ‘cockpit’ that provides order management and execution through a single, secure interface.
- Automated Order Routers (AOR), its automated rules-based trading for Request for Stream (RFS) sessions. Platform upgrades will improve the efficiency and effectiveness of execution for the real money community.
- FX Connect Order Blotter. Developments include live indicative rates, the estimated percentage away from an order’s limit price, colour coding of orders based on their percent away from their custom threshold settings and customisable order alerts.
A key pillar of the roadmap for 2019 will also be further integration with BestX®, its Foreign Exchange and Fixed Income Best Execution Analytics platform, to build a monthly summary Transaction Cost Analysis report for all its clients based on their FX Connect trading data. Enhancements will be provided around the granularity and the breadth of data sets that clients can access and move into a real-time mode.
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 $31.62 trillion in assets under custody and administration and $2.51 trillion* in assets under management as of December 31, 2018, State Street operates in more than 100 geographic markets worldwide, including the US, Canada, Europe, the Middle East and Asia. For more information, visit State Street’s website at www.statestreet.com.
*This figure is presented as of December 31, 2018 and includes approximately $32.44 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.