State Street Announces Several Product and Technology Enhancements for Institutional Investors Available via my.statestreet.com
June 06 2006 - 8:25AM
Business Wire
State Street Corporation (NYSE:STT), the world's leading provider
of financial services to institutional investors, today announced a
number of product and technology enhancements aimed at expanding
capabilities and services for its global customers. All of the new
developments can be accessed via my.statestreet.com, State Street's
integrated online customer information delivery platform, which
acts as a secure, single entry point to State Street's full suite
of sophisticated market data and analysis applications. "The
evolving regulatory environment, along with the heightened
complexity of the overall investment process, have meant that our
customers need greater accessibility to their investment
information along with better monitoring and control over the
activities of their managers," said Joseph Antonellis, executive
vice president and chief information officer for State Street. "The
product and technology enhancements we made recently will help our
customers save time and effort, while enabling streamlined access
to key information. These new developments also highlight State
Street's ongoing investment in the diverse technology needs of our
global customer base." The new enhancements include: Online
Documents State Street now offers an Online Document Manager
("Online Documents") as part of its comprehensive suite of customer
applications, which enables customers to maintain, organize,
readily access and circulate important financial documents in a
common repository. These include letters, contracts, amendments,
agreements, partnership agreements, contact lists, process and
procedure guides, and compliance documents. Online Documents
features secure and immediate document distribution to multiple
users as well as an audit trail that monitors document posting
dates and originators. In addition, the solution helps to eliminate
the need for exchange of emails with large attachments. A
centralized posting feature ensures consistency so that all users
are able to view and update the same document in a secure manner.
"Online Documents is a welcome enhancement to my.statestreet.com,
providing one central location for our entire team to access
documents," said Roger Biscay, assistant treasurer for Cisco
Systems, a State Street customer. "We've already noticed a drastic
reduction in the volume of emails exchanged by our team members on
a daily basis." Securities Lending Performance Analyzer State
Street has expanded the capabilities of its Securities Lending
Performance Analyzer (SLPA)(R), a sophisticated online performance
measurement tool which quantifies, manages and communicates the
risk/return relationship in a securities lending program. SLPA now
provides this analysis for customers who participate in lending
programs involving Euro collateral in addition to U.S. Dollar
collateral. Tax-Efficient Lot Selector In response to increased
shareholder pressure on our institutional customers to improve tax
efficiency and increase returns, State Street has enhanced the
fixed income functionality of its integrated Tax-Efficient Lot
Selector. The new tool is designed to minimize the tax burden to
shareholders resulting from the sales of both equities and fixed
income securities in funds they own. Minimizing a fund's gains from
sales of these securities lowers capital gain distributions to
shareholders, thereby lowering the taxes they pay to the IRS. The
Tax-Efficient Lot Selector's straight-through process and
accessibility via my.statestreet.com provide both operating
efficiencies and convenience. The application also offers the
flexibility to customize business rule and rate selection criteria
to meet customers' specific needs. 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 $10.7 trillion in
assets under custody and $1.5 trillion in assets under management
(as of March 31, 2006), 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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