State Street Announces New Collaboration with CLS

Source: State Street 2020-05-27

LONDON, 28 April, 2020 – State Street Corporation (NYSE: STT) today announced that it is collaborating with CLS, an FX market infrastructure group delivering settlement, processing and data solutions, to provide asset managers with a consolidated view of CLSSettlement information across their accounts for the first time.

The collaboration will combine TradeNeXusSM, State Street’s electronic post-trade processing service, with CLS’s post-trade monitoring and reporting tool, CLSTradeMonitorSM, allowing asset managers to efficiently manage their trades eligible for CLSSettlement, along with all trades across their accounts with different custodians. The unique platform will also help asset managers to meet deadlines and alter settlement instructions with ease.

“Asset managers want further visibility into their transaction lifecycles to reduce risk and increase operational efficiency,” said Kate Lowe, head of GlobalLink post-trade services at State Street Global Markets. “By collaborating with CLS, who has a unique settlement service in the FX market, we continue to work on innovative ways to improve operational processes that will provide our clients with enhanced functionality to manage their post-trade workflows. Together, we will provide a single-window to view critical settlement data as a seamless extension to the existing capabilities to drive efficiency and automation for our valued client base.”

“Asset managers are increasingly focused on improving post-trade efficiency in an evolving and fragmented FX market, driven in part by increased regulatory requirements for transactional reporting,” said Alan Marquard, Chief Business Development Officer, CLS. “We are delighted to be working with State Street to deliver a solution that enhances post-trade transparency, mitigates risk and increases efficiency by providing asset managers with an integrated view of their settlement activity.”

About TradeNeXus

State Street’s electronic post-trade processing service that supports trade matching, confirmation and settlement for foreign exchange transactions.

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 $31.86 trillion in assets under custody and/or administration and $2.69 trillion* in assets under management as of March 31, 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 March 31, 2020 includes approximately $50 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.

About CLS

CLS helps clients navigate the changing FX marketplace – reducing risk and creating efficiencies. Our extensive network and deep market intelligence enable CLS specialists to lead the development of standardized solutions to real market problems. Our innovative, forward-looking products make the trading process faster, easier, safer and more cost-effective – empowering our clients’ success. For more information, visit CLS Group’s website at https://www.cls-group.com/products/processing/clstrademonitor/

CLS and the CLS logo are registered trademarks of CLS UK Intermediate Holdings Ltd.

Expiration date: April 30, 2021

State Street Announces New Collaboration with CLS

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