State Street Solutions Help Clients Navigate Regulatory Change and Mitigate Risk
May 06 2013 - 9:00AM
Business Wire
State Street Corporation (NYSE: STT), announced today
enhancements to its financial reporting and collateral services
which will help clients comply with regulations, manage risk and
automate their disclosure requirements.
- State Street’s new ProNavigator
solution enables asset managers to automate their registration
forms (including the prospectus and statement of additional
information) in multiple formats. The new solution enables
auto-composition and helps to streamline disclosures that are
required across multiple fund registrations. It provides clients
with one source document that reduces the risk of regulatory
reporting errors, lowers typesetting and EDGAR conversion costs and
streamlines production review and sign-off.
- To help manage counterparty risk, the
US Dodd-Frank legislation enables collateral to be held by
independent third-parties such as State Street. In response, State
Street has expanded its tri-party collateral custody capabilities
to all clients and broker dealers to help mitigate risk and
maintain control of pledged assets. The new solution, Collateral
Custody Service, provides a segregated account structure and can be
offered as an independent, stand-alone service or as a component of
broader solutions. It compliments State Street’s DerivOne suite, an
end-to-end derivatives solution that includes servicing, custody
and accounting, collateral management, valuation, and risk and
analytics.
- Meeting the heightened collateral
demands of global derivatives regulation, State Street has also
strengthened its collateral management solution to incorporate
margin automation technology. As the amount and frequency of
required collateral increase, automation will be essential for
clients to achieve timely and accurate messaging to increase
operational efficiencies.
State Street’s solutions will help bolster asset managers,’
investors,’ and intermediaries’ efforts to manage risk and comply
with regulation. According to data from State Street’s Center for
Applied Research, investment in risk analytics and improving
regulatory compliance ranked within the top three strategic
operational priorities for the next ten years.
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 $25.4 trillion in assets
under custody and administration and $2.2 trillion in assets under
management at March 31, 2013, State Street operates in more than
100 geographic markets worldwide, including the U.S., Canada,
Europe, the Middle East and Asia. For more information, visit State
Street’s web site at www.statestreet.com.
This AUM includes the assets of the SPDR Gold Trust (approx.
$62.7 billion as of March 31, 2013), for which State Street Global
Markets, LLC, an affiliate of State Street Global Advisors, serves
as the marketing agent.
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