State Street and Bloomberg Announce Enhanced Processing and Settlement for Fixed Income ETFs
July 11 2016 - 10:55AM
Business Wire
State Street Corporation (NYSE: STT), and Bloomberg, the global
business and financial information and news leader, announced today
the launch of an enhancement for the fixed income exchange traded
fund (ETF) market that helps clients process and settle ETF orders
in a more efficient, scalable and automated manner.
As institutional adoption of ETFs continues to increase, this
new link between State Street and Bloomberg marks an evolution in
how fixed income ETFs trade and settle in the primary market. The
enhancement integrates Bloomberg’s Fixed Income ETF Basket service
(BSKT<GO>) with TotalETF℠, State Street’s automated, global
ETF servicing solution and Fund Connect®, State Street’s online
order management system.
Bloomberg’s service allows authorized participants to submit
orders directly from BSKT<GO> to State Street and generates
in-kind settlement instructions based on transaction messages
received from Bloomberg. It will also be available to all ETF
sponsors currently serviced by State Street Global Services.
“The proliferation of ETFs across fixed income has led to
increased complexity,” said Frank Koudelka, senior vice president
at State Street Global Services. “The enhancement will be the
first, true end-to-end solution for the processing and settlement
of fixed income ETF baskets, integrating the state-of-the-art
capabilities of TotalETF with a global, industry-standard interface
in Bloomberg’s Professional service.”
"As institutional participation in the fixed income ETF market
grows, the need for workflow efficiency in the creation and
redemption process will be critical," said Ben Macdonald,
Bloomberg's Global Head of Product. "The integration of BSKT and
TotalETF ensures that ETF sponsors using Bloomberg and Fund Connect
will experience efficient processing of their transactions."
BSKT <GO> provides market participants an efficient and
systematic way to access the primary market of ETFs. The tool
automates the process of gaining access to liquidity necessary to
create and redeem fixed income ETFs, and integrates functionality
from across the Bloomberg Terminal, including Bloomberg’s Fixed
Income electronic trading, order execution and portfolio analytics
solutions.
About State Street
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 $27 trillion in assets under
custody and administration and $2 trillion* in assets under
management as of March 31, 2016, State Street operates in more than
100 geographic markets worldwide, including the US, Canada, Europe,
the Middle East and Asia. For more information, visit State
Street’s website at www.statestreet.com.
* Assets under management were $2.30 trillion as of March 31,
2016. AUM reflects approx. $32.6 billion (as of March 31, 2016)
with respect to which State Street Global Markets, LLC (SSGM)
serves as marketing agent; SSGM and State Street Global Advisors
are affiliated.
About Bloomberg
Bloomberg, the global business and financial information and
news leader, gives influential decision makers a critical edge by
connecting them to a dynamic network of information, people and
ideas. The company’s strength – delivering data, news and analytics
through innovative technology, quickly and accurately – is at the
core of the Bloomberg Professional service, which provides real
time financial information to more than 327,000 subscribers
globally. For more information,
visit http://www.bloomberg.com/company/ or request a
demo.
Important Information
ETFs trade like stocks, are subject to investment risk,
fluctuate in market value and may trade at prices above or below
the ETFs net asset value. Brokerage commissions and ETF expenses
will reduce returns.
Investing involves risk including the risk of loss of
principal.
The information provided does not constitute investment advice
and it should not be relied on as such. It should not be considered
a solicitation to buy or an offer to sell a security. It does not
take into account any investor's particular investment objectives,
strategies, tax status or investment horizon. You should consult
your tax and financial advisor. All material has been obtained from
sources believed to be reliable. There is no representation or
warranty as to the accuracy of the information and State Street
shall have no liability for decisions based on such
information.
State Street Corporation, One Lincoln Street, Boston, MA
02111-2900
© 2016 State Street Corporation - All Rights Reserved. State
Street Global Markets, Global Link and Fund Connect are registered
trademarks of State Street Corporation or its affiliates.
Exp. Date: 6/30/17
CORP-2072
View source
version on businesswire.com: http://www.businesswire.com/news/home/20160711005913/en/
State Street CorporationBrendan Paul, +1
617-662-2903Bpaul2@statestreet.com@StateStreet
State Street (NYSE:STT)
Historical Stock Chart
From Jun 2024 to Jul 2024
State Street (NYSE:STT)
Historical Stock Chart
From Jul 2023 to Jul 2024