London, June 26, 2019 – State Street Corporation (NYSE: STT), one of the world’s leading providers of financial services to institutional investors, today announced that two of its electronic trading platforms have been recognized by Profit & Loss magazine at the 2019 Readers’ Choice Awards. The awards, also known as the FoXys, are now in their 12th year and are voted for by the magazine’s subscribers, reflecting their preferred choice of market makers and service providers operating in the FX industry.
For the seventh 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 State Street’s GlobalLink e-trading suite, is a trading and workflow solution that is currently used around the world by more than 500 asset managers and hedge funds – including 23 of the top 25 global investment managers. FX Connect is also the only platform that can demonstrate a more than 20 year track record of tailor-made solutions for institutional investors with proven integration capabilities with Order Management and Accounting Systems.
“We are very proud to be recognized by the readers of Profit & Loss and to continue building on our strong market position,” said Beverley Doherty, global head of FX Connect. “FX Connect continues to innovate and improve in exciting ways to excel in performance, stability, functionality and client service. Through our ongoing program of enhancements to the platform’s functionality, we’re helping to make clients’ FX trading more efficient and transparent, adding value to the investment decision making process.”
FX Connect Trade Services, which enables buy-side clients and executing banks to electronically match, confirm and communicate FX and Money Market settlement information, was also recognized for an award as it was named Best Post-Trade Provider. 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 named runner-up as Best FX Platform for Hedge Funds.
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.
 Based on Pension & Investments magazine 2017