State Street Completes Securities Lending Auction via EquiLend AuctionPort; Assets Auctioned for Ohio Public Employees Retiremen
January 19 2006 - 1:14PM
Business Wire
State Street Corporation (NYSE:STT), the world's leading provider
of services to institutional investors, today announced that it
recently completed a securities lending auction for approximately
$2.6 billion in international assets for the Ohio Public Employees
Retirement System (OPERS). Exclusive borrowing rights to the
securities for a set period of time were auctioned using EquiLend
AuctionPort(SM), which allows lenders to host and conduct blind and
open auctions of portfolios on behalf of their customers via
EquiLend's global securities finance platform. "We are pleased to
have worked with State Street to bring this lender and the
international borrower community together via a successful
auction," said Brian P. Lamb, chief executive officer of EquiLend.
"Our goal is to maximize the value of our portfolios while
retaining our conservative approach to risk," said Jerry May,
securities lending officer for OPERS. "Auctioning select asset
types provides us with an additional route to market within our
overall securities lending program." "We work with our customers to
establish innovative securities lending programs tailored to their
specific investment objectives and risk parameters," said Edward J.
O'Brien, executive vice president and head of securities finance at
State Street. "Offering our customers the option of an auction
using the EquiLend platform can be an excellent alternative when
specific market and asset criteria are met." State Street was one
of a group of 10 global financial institutions that joined together
in 2000 to develop a standardized and centralized global platform
for trading and operations services and to optimize efficiency in
the securities finance industry. As a result of this initiative,
EquiLend Holdings LLC was formed in 2001 and the platform went live
in 2002. For more information about EquiLend and EquiLend's
services, please visit www.equilend.com. State Street lends
securities in more than 35 markets around the world via a global
network of trading locations -- providing customers with
around-the-clock opportunities, as well as regional expertise and
experience. State Street has provided securities lending services
since 1974, and has developed an industry-leading approach to risk
and return management. Its securities lending program is available
to all institutional investors worldwide, whether their assets are
held in custody at State Street or elsewhere. For more information,
visit www.statestreet.com/securitiesfinance. State Street
Corporation (NYSE: STT) is the world's leading specialist in
providing institutional investors with investment servicing,
investment management and investment research and trading services.
With $10.1 trillion in assets under custody and $1.4 trillion in
assets under management at December 31, 2005, State Street operates
in 26 countries and more than 100 geographic markets worldwide. For
more information, visit State Street's web site at
www.statestreet.com.
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