State Street's Currenex and FX Connect Win Top Honors for Multi-Bank Online FX Trading Capabilities in Euromoney's FX Poll 2008
May 12 2008 - 10:00AM
Business Wire
State Street Corporation (NYSE:STT), the world�s leading provider
of financial services to institutional investors, announced today
that its Currenex and FX Connect platforms have garnered top
rankings in the Multi-Bank Platform category in Euromoney�s FX Poll
2008. Currenex was ranked No. 1 in Customer Satisfaction for Speed
of Execution and No. 1 in Customer Satisfaction for Competitive
Pricing. FX Connect was ranked No. 1 in Customer Satisfaction for
Straight Through Processing (STP). �Currenex provides the
sophisticated foreign exchange trading community with
high-performance solutions that include advanced technology,
diverse liquidity and greater choices in how to trade,� said Cliff
Lewis, CEO of Currenex. �These awards recognize Currenex as a true
leader, and we�re committed to consistently outperforming
competitors by delivering continual product enhancements.� �Our FX
Connect platform focuses on institutional investors with
state-of-the-art FX trading STP solutions that address their
complex trade-order management needs, including superior ability to
handle order management integration, electronic trading and
post-trade communications for trades involving multiple portfolios
and counterparties,� said Simon Wilson-Taylor, executive vice
president and worldwide head of Global Link for State Street. �We
are pleased to receive this honor as acknowledgement of our
continuing market leadership." The foreign exchange market has
grown dramatically over the past several years, with average daily
turnover figures growing an unprecedented 71 percent since April
2004, to $3.2 trillion in April 2007. With FX Connect�s pioneering
capabilities in electronic foreign exchange trading and Currenex�s
focus on servicing high-volume, high-frequency trading activity,
State Street is poised to capture more of that growing market by
offering the broadest range of capabilities and the deepest
liquidity available in the market today. �The honor demonstrate the
market�s recognition of our leading-edge foreign exchange
capabilities that meet the growing electronic trading needs as well
as a vote of confidence from our customers as we continue
innovating market solutions in foreign exchange and other asset
classes to deliver the most complete and technologically advanced
set of products available,� added Wilson-Taylor. State Street
Global Markets provides specialized investment research and trading
in foreign exchange, equities, fixed income and derivatives. Its
goal is to enhance and preserve portfolio values for asset managers
and asset owners. From its unique position at the crossroads of the
global markets, it creates and unlocks value for its clients with
original flow-based research, innovative portfolio strategies,
trade process optimization, and global connectivity across multiple
asset classes and markets. About State Street State Street
Corporation (NYSE: STT) is the world's leading provider of
financial services to institutional investors including investment
servicing, investment management and investment research and
trading. With US$15 trillion in assets under custody and US$2
trillion in assets under management at March 31, 2008, 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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