State Street Conducts $15 Billion Securities Lending Auction for State Street Global Advisors in France
January 18 2007 - 12:35PM
Business Wire
State Street Corporation (NYSE: STT), the world�s leading provider
of financial services to institutional investors, today announced
that it has completed a securities lending auction for
approximately $15 billion in international assets for investment
funds managed by State Street Global Advisors France (SSgA) in
Paris. This mandate, the second successful securities lending
auction completed for SSgA in France, was held on behalf of nine
French-domiciled Soci�t�s d�Investissement � Capital Variable
(SICAVs) and seven French-domiciled Fonds Communs de Placement
(FCPs). Due to the auction format, multiple mandates were awarded
to several different borrowers, achieving the most competitive bid
per class. The auction was conducted via EquiLend AuctionPortSM, a
browser-based portfolio auction service that allows lenders to host
and conduct blind and open auctions of portfolios on behalf of
their customers. �This new assignment demonstrates how our flexible
and innovative offering can accommodate a range of different
lending programmes,� said Chris Taylor, head of State Street�s
securities finance team in Europe. �Providing our customers with
the option of utilizing an auction via EquiLend as an additional
way of accessing markets is another example of our dedication to
responding to our customers� needs.� Notes to Editors State Street
is one of 10 global financial institutions that joined together in
2000 to develop a standardized and centralized global platform for
trading and operations services, and optimize efficiency in the
securities finance industry. As a result of this initiative,
EquiLend Holdings LLC, which now has 11 owner/partners and claims
nearly 40 users worldwide, was formed in 2001 and the platform went
live in 2002. For more information about EquiLend and its services,
please visit www.equilend.com. State Street lends securities in
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. About State Street Global
Advisors Street Global Advisors, the investment management arm of
State Street Corporation (NYSE: STT), delivers investment
strategies and integrated solutions to clients worldwide across
every asset class, investment approach and style. With $1.7
trillion in assets under management as of December 31, 2006, State
Street Global Advisors has investment centers in Boston, Hong Kong,
London, Milan, Montreal, Munich, Paris, Singapore, Sydney, Tokyo
and Zurich, and offices in 25 cities worldwide. For more
information, visit State Street Global Advisors at www.ssga.com.
About State Street Corporation State Street Corporation is the
world�s leading specialist in providing institutional investors
with investment servicing, investment management and investment
research and trading services. With $11.9 trillion in assets under
custody and $1.7 trillion in assets under management as of December
31, 2006, State Street operates in 26 countries and more than 100
geographic markets worldwide. For more information, visit State
Street�s website at www.statestreet.com.
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