State Street Expands ETF Servicing Capabilities with Enhanced Global Technology
January 24 2012 - 7:30AM
Business Wire
State Street Corporation (NYSE: STT), one of the world's leading
providers of financial services to institutional investors,
announced today the expansion of its global servicing capability
for exchange traded funds (ETFs). Now leveraging state-of-the-art
cloud-enabled technology, State Street’s ETF servicing solution,
TotalETFSM, drives full automation throughout the lifecycle of an
ETF from the basket-creation process to trade processing and
settlement.
The new enhancements provide complete integration to core
applications, end-to-end automation and full client transparency
via an ETF dashboard available on the company’s client website
my.StateStreet.com. Additional functionality includes the
geographic expansion of State Street’s Fund Connect ETF order
management system and a daily performance attribution capability
for ETFs.
“TotalETF will help solve all potential administrative pain
points for ETF sponsors globally,” said Frank Koudelka, senior vice
president of State Street’s Global Services business.”
The ETF dashboard on my.StateStreet.com now allows portfolio
managers to monitor the basket near real-time, and geographic
expansion of Fund Connect ETF order management system includes
coverage for Europe, Canada and the Asia-Pacific region. The
enhanced daily performance attribution capability also allows for
NAV decomposition to break down tracking error into specific
components.
“Our expanded offering reflects the tremendous growth that ETFs
have experienced over the past decade,” Koudelka added. “As the
only provider offering a common electronic order management
platform to connect all market participants involved in ETF
trading, our clients now have a scalable servicing solution that
will allow them to focus on developing new ETF products.”
State Street pioneered ETF servicing as the service provider for
the first ETF product launched in the US in 1993. In the years
since, State Street has helped launch the ETF industry in Hong
Kong, Australia and Luxembourg, as it expanded its servicing
capabilities worldwide.
About State Street Corporation
State Street Corporation (NYSE: STT) is one of the world's
leading providers of financial services to institutional investors
including investment servicing, investment management and
investment research and trading. With $21.8 trillion in assets
under custody and administration and $1.9 trillion* in assets under
management at December 31, 2011, State Street operates in 29
countries and more than 100 geographic markets. For more
information, visit State Street’s web site at
www.statestreet.com.
*This AUM includes the assets of the SPDR Gold Trust (approx.
$63 billion as of December 31, 2011), for which State Street Global
Markets, LLC, an affiliate of State Street Global Advisors serves
as the marketing agent.
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