State Street to Provide FX Workflow Solution to Merrill Lynch Investment Managers in London; State Street's Global Link Network
April 13 2006 - 11:09AM
Business Wire
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(R)
network for Merrill Lynch Investment Managers (MLIM) based in
London. Using Global Link's FX Connect execution platform, the
workflow solution fully integrates with MLIM's current processes.
It allows MLIM's equities business to aggregate multiple sources of
FX requirements, view associated compliance requirements, trade
with multiple counter-parties, and access reporting capabilities
all through a single platform. "State Street's Global Link
understood our workflow needs and developed a comprehensive
workflow product to help further automate our foreign exchange
process," said Paul Walker-Duncalf a managing director of Merrill
Lynch Investment Managers. "Given the excellent integration
support, large degree of customisation and FX Connect's leading
market share among asset managers, they were a natural choice for
us to partner with." State Street has a longstanding history of
providing full-service online solutions that span the entire
investment process. Its Global Link(R) network 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. "This collaboration with MLIM is a
next step in the evolution of foreign exchange solutions," said
Simon Wilson-Taylor, managing director and worldwide head of Global
Link for State Street. "As transparency and compliance requirements
become more time consuming, a flexible and full-service solution
that spans multiple trading processes significantly increases
trading efficiencies." Launched in 1996, State Street's online
foreign exchange trading tool, FX Connect, became the industry's
first buy-side, multi-bank FX trading platform in 2000. About State
Street: 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. With $10.1 trillion in assets under custody and $1.4
trillion in assets under management (as at 31 December 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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