BOSTON, July 29, 2020 — State Street Corporation (NYSE: STT) today announced that three of its electronic trading and post-trade platforms have been recognized by Profit & Loss magazine in the 2020 Readers’ Choice Digital Markets Awards. The awards are now in their 13th year and are voted for by their magazine and website subscribers, reflecting their preferred choice of market makers and service providers operating in the FX industry.
For the eighth consecutive year, FX Connect, State Street’s FX execution venue that helps firms efficiently manage multiple portfolios, connect with brokers and streamline global operations, was named Best FX Platform for Asset Managers. The multi-bank FX trading platform, which is part of GlobalLink, State Street’s suite of e-trading platforms, technology, data and workflow solutions, is currently used around the world by more than 500 buy-side clients.
In addition, 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, was voted the Best FX Platform for Hedge Funds. TradeNeXus (previously known as Trade Services), which enables buy-side clients and executing banks to electronically match, confirm and communicate FX and Money Market settlement information, was also named the Best Post-Trade Provider for the second consecutive year.
“We are delighted to be recognized by the readers of Profit & Loss for delivering a best-in-class FX platform,” said Beverley Doherty, global head of FX Connect & head of Execution Services North America. “As we help our clients navigate volatile financial markets, we continue to look at how we can increase execution flexibility, reduce operational risk and enhance transparency to bring value to our clients.”
“The strong results across this year’s poll validate our commitment to being our clients essential partner,” said Martine Bond, head of GlobalLink. “Having three of our execution and post-trade platforms selected for these awards demonstrates our focus on innovating, expanding and delivering a marketing leading offer for our clients across the trade lifecycle.”
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 $33.52 trillion in assets under custody and/or administration and $3.05 trillion* in assets under management as of June 30, 2020, 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 www.statestreet.com.
*Assets under management as of June 30, 2020 includes approximately $67 billion of assets with respect to which State Street Global Advisors Funds Distributors, LLC (SSGA FD) serves as marketing agent; SSGA FD and State Street Global Advisors are affiliated.
Brendan Paul Bpaul2@statestreet.com +1 401 644 9182