October 28, 2002 13:30 GMT
SunGard's ETXTM and State Street’s FX Connect® Announce Partnership
SunGard's ETXTM and State Street's FX Connect® Announce Partnership
FX Connect® to be fully integrated into SunGard's corporate treasury workstation products
London, UK and Boston, MA, October 28, 2002 -- State Street Corporation (NYSE: STT), the world's leading specialist in meeting the needs of sophisticated global investors, announced today that it will partner with SunGard (NYSE: SDS) to offer FX Connect, State Street's multi-bank foreign exchange trading system, as a fully integrated component of all of SunGard's corporate treasury workstation products.
Stanley W. Shelton, executive vice president of State Street Corporation said: "FX Connect's success is largely due to our single-minded focus on providing meaningful straight-through-processing benefits to the customer, in addition to open access to all the liquidity providers they need. Until today, FX Connect has concentrated almost exclusively on serving large global institutional investors and institutions. Our partnership with SunGard allows us to bring these efficiencies and benefits to the corporate marketplace in the most powerful way possible."
FX Connect is the established leader in the multi-bank foreign exchange trading industry with a market share estimated recently by Tower Group at over 70%. SunGard Treasury Systems is also an established leader among treasury management solution providers with a client base comprising over 50% of the Fortune 1000 companies.
FX Connect is offered via State Street's renowned Global Link platform, delivering unique fact-based research, decision support tools, and trading technology for six asset classes to clients in 23 countries worldwide. The initial products to be offered to corporations through the State Street and SunGard partnership are: FX Connect and Quick-FX® for multibank trading, GTSS II for trade matching and confirmations, and a new product, Auto FX Connect, which has been specifically designed to meet the workflow and trading requirements of large corporations.
Cris Conde, president and chief executive officer, SunGard, comments, "This alliance fits perfectly with SunGard's business strategy; in today's world, connectivity determines success. Processes need to be automated end-to-end and integrated within companies and across businesses and time zones."
"There is enormous pent-up demand from corporations for the solution we have announced today," said Simon Wilson-Taylor, head of Global Link at State Street Corporation. "Essentially, it's about meeting client needs and no other platform has focused on customer issues the way we have. We delayed making a major push into the corporate FX market until we had the right solution, providing corporates with the same operational and bottom-line benefits that our institutional clients have enjoyed for nearly six years."
About FX Connect:
The first live trades on FX Connect took place on August 13th 1996. In 2000, FX Connect became the first-ever multibank FX system when live trading commenced on March 1st with Deutsche Bank. Among the now 35 banks participating today on FX Connect are ABN Amro, Bank of America, Bank of Montreal, Barclays Capital, Bear Stearns, Brown Brothers Harriman, CIBC World Markets, Citibank, Commonwealth Bank of Australia, Credit Suisse First Boston, Deutsche, Dresdner Kleinwort Wasserstein, FleetBoston Financial, JP Morgan Chase, Lehman Brothers, Lloyds TSB, Merrill Lynch, National Australia Bank, Royal Bank of Canada, Royal Bank of Scotland, Scotia Capital, Societe Generale, Standard Chartered, State Street Corporation, TD Securities, Ulster Bank, Westpac Banking Corporation.
State Street Corporation (NYSE: STT) is the world's leading specialist in providing sophisticated global investors with investment servicing and investment management. With $5.7 trillion in assets under custody and $707 billion in assets under management, State Street is headquartered in Boston, Massachusetts and operates in 22 countries and over 100 markets worldwide. For more information, visit State Street's web site at www.statestreet.com.
For further information please contact:
Hannah Grove
State Street Corporation
+617 664 3377
Carolyn Cichon
State Street Corporation
+617 664 8672
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State Street Corporation (NYSE: STT), the world's leading provider of financial services to institutional investors announced today that its FX Connect multi-bank electronic foreign exchange trading system recently exceeded $99 billion in a single trading day*.
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State Street to Provide FX Workflow Solution to Merrill Lynch Investment Managers in London.
State Street Corporation (NYSE: STT), the world's leading provider of financial services to institutional investors, announced today that it has developed a comprehensive foreign exchange (FX) execution management workflow solution via its Global Link® network for Merrill Lynch Investment Managers (MLIM) based in London.
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March 31, 2006
State Street Recognized as Best Overall Foreign Exchange Service Provider by Global Investor Magazine.
State Street was ranked No. 1 in the GI 100 Best Overall FX Service category which included respondents from the 100 largest third party asset managers.
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February 24, 2006
SEB Group Joins State Streets FX Connect
FX Connect is offered via State Street’s proprietary Global Link® network, which delivers unique fact-based research, decision support tools and trading technology for six asset classes to clients in 24 countries worldwide, who collectively manage approximately 75 percent of the world's total professionally managed assets.
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January 23, 2006
State Street Develops Open Industry Standard for Online Settlement Instructions with SSISearch
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July 21, 2005
State Street's FXConnect Named Best Multi-Bank Foreign Exchange Trading Platform For Institutional Investors
Launched in 1996, FXConnect became the first multi-bank trading platform for foreign exchange in March 2000. It remains the market leader, demonstrating State Street's continuing commitment to enhance the platform to meet the growing needs of its customer base
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July 6, 2005
State Street’s FXConnect’s Daily Trading Volume Surpasses $40 Billion
FXConnect is offered via State Street’s Global Link network, which delivers unique fact-based research, decision support tools and trading technology to clients around the world
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December 21, 2004
State Street’s FXConnect Tops $30 Billion in Daily Trading Volume
FXConnect multi-bank electronic foreign exchange trading system has surpassed $30 billion in daily trading volume for the first time. FXConnect is available via State Street's Global Link network.
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October 22, 2004
State Street Signs Top Five Canadian Banks to Global Link's Post-Trade Foreign Exchange Tool, Global Trading Support Services
Canadian banks have joined State Street’s post-trade foreign exchange confirmation matching and settlement tool, Global Trading Support Services (GTSS), available through State Street’s Global Link® network. The five banks are: Bank of Montreal, Scotia Capital, CIBC, Royal Bank of Canada and TD Bank Financial Group.
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August 2, 2004
State Street’s FX Connect® Tops Water Magazine's 2004 Rankings
The FX Connect trading system has been ranked No. 1 in the category of Best FX Venue in Waters magazine's annual readership rankings.
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June 23, 2004
The Mitsubishi Trust and Banking Corporation Joins State Street’s FX Connect®
The Mitsubishi Trust and Banking Corporation (Mitsubishi Trust) will provide liquidity to FX Connect, State Street's multi-bank electronic foreign exchange trading system available via State Street's Global Link
® network.
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March 31, 2004
State Street Tops Global Finance Magazine’s Foreign Exchange Awards for Fourth Consecutive Year
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® Named Best Online Forex Trading System by Leading Industry Publication
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March 31, 2004
State Street Receives High Marks in Global Investor Foreign Exchange Survey
Global Markets Team Recognized for FX Service, Research Expertise and Technological Capabilities
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July 1, 2003
Sumitomo Trust & Banking Co., Ltd. Joins State Street’s FX Connect®
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May 19, 2003
State Street's FX Connect® Surpasses $20 Billion
State Street Corporation announced today that FX Connect, the company's multi-bank electronic foreign exchange trading system available via the Global Link network, has surpassed $20 billion in daily trading volume.
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October 28, 2002
SunGard's ETXTM and State Street’s FX Connect® Announce Partnership
FX Connect
® to be fully integrated into SunGard’s corporate treasury workstation products
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July 16, 2002
Global Trade Confirmation System Boosts Investment Manager Efficiency
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June 20, 2002
The Royal Bank of Scotland to Provide Liquidity via State Street's Money Market Connect Platform
State Street Corporation announced today that The Royal Bank of Scotland (RBS) has agreed to provide liquidity on Money Market Connect (MM Connect), Global Link's real-time electronic money markets trading network.
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May 14, 2002
State Street's FX Connect® Rated Number One in Market Share Among E-Commerce Multi-Bank Platforms in Euromoney's 2002 Annual FX Survey
"We are pleased to be recognized for our leadership in online foreign exchange trading in Euromoney's highly regarded annual FX survey," said Stanley W. Shelton, executive vice president and head of State Street's Global Markets business.
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April 17, 2002
JPMorgan Chase To Join State Street's FX Connect Trading System
State Street Corporation (NYSE:
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April 9, 2002
Citibank to Provide Liquidity Through State Street's FX Connect Trading System
State Street Corporation (NYSE: STT), the world's leading specialist in meeting the needs of sophisticated global investors, announced today that Citibank, a division of Citigroup Inc. (NYSE: C), will provide liquidity to FX Connect
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September 5, 2001
Standard Life Investments to Offer Funds Through Global Link
Standard Life Investments, one of the world's major asset management companies with over $110 billion of assets under management, announced today that they will collaborate to offer Standard Life's AAA-rated Money Market Fund over Fund Connect, a fund research and trade execution system on State Street's proprietary e-finance network, Global Link.
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August 14, 2001
State Street's FX Connect E-Forex Trading System Marks Five-Year Anniversary
Underscores State Street's First-Mover Position in Providing Industry Leading Solutions to Clients on Both Buy and Sell Sides - State Street Corporation reported today the five-year anniversary of the first live trades on its electronic foreign exchange trading system, FX Connect, available via State Street's Global Link network.
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July 25, 2001
State Street Adds Sophisticated Trade Confirmation Matching and Reporting Systems to Multi-Bank E-Finance Network
Created to address strong demand from clients, on both the buy and sell sides, for a new, effective, low cost solution for matching and affirming transactions
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July 3, 2001
State Street Announces That Merrill Lynch Funds Will Be Available On Fund Connect via Global Link
State Street Corporation, the world's leading specialist in meeting the needs of sophisticated global investors,today announced that the Merrill Lynch Institutional Liquidity Funds plc (ILF) will be available via Fund Connect.
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January 18, 2001
Royal Bank of Scotland to Participate in State Street's Multi-Bank Foreign Exchange System; to Offer Futures Trading Products on State Street's E-Finance Network
Underscores State Street's First-Mover Advantage as Only Provider of Full-Service e-Finance Network Operating across Multiple Assets
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