State Street Reaches US $2 Trillion In ETF Assets Under Administration Milestone
April 27 2017 - 9:15AM
Business Wire
Also Recognized as Best ETF Custody Service Provider at Fund
Action’s 2017 ETF Innovation Awards
State Street Corporation (NYSE:STT), the world’s leading
provider of financial services to institutional investors,
announced today that its global ETF assets under administration
exceeded US $2 trillion as of January 31, 20171, and that State
Street currently services 55% of the global industry’s exchange
traded funds (ETF) and exchange trade products (ETP) assets under
management.2 State Street was also the recipient of the best
custody service provider award at this year’s Fund Action ETF
Innovation Awards. Past winners of these awards have been
responsible for ground breaking ideas, fund products and a level of
service that have helped both investors and clients.
“Clients continue to bring their business to State Street
because of our commitment to the exchange traded product structure,
our ongoing investment in our proprietary, core platform and our
scale,” said Frank Koudelka, senior vice president at State Street.
“We continue to make tremendous investments in servicing the ETF
structure, which in turn allows us to quickly and seamlessly
support the launch of innovative products for our clients.”
Notable milestones for State Street’s ETF servicing business
include:
- 2013: Launched the first international
security structure ETF, enabling trading across Europe with
centralized settlement via Euroclear
- 2014: Launched the first
actively-managed ETF to include trade date derivatives in
basket
- 2014: Developed cash in lieu (CIL)
trading service, enabling ETF sponsors to outsource trade execution
for any CIL securities to State Street’s agency-only broker
- 2015: Enhanced ETF Global Platform to
calculate creation and redemption variable fees in tiers to meet
the requirements of NextShares products
- 2016: Developed partnership with
Bloomberg and enhanced technology automating fixed income creation
/ redemption process
- 2016: Named administrator, fund
accountant and transfer agent for the Winklevoss Bitcoin ETF
COIN
About State Street Corporation
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 $29.83 trillion in assets under custody and
administration and over $2 trillion* in assets under management as
of March 31, 2017, State Street operates globally in more than 100
geographic markets and employs 34,817 worldwide. For more
information, visit State Street's website at
www.statestreet.com.
* Assets under management were $2.56 trillion as of March 31,
2017. AUM reflects approximately $33.30 billion (as of March 31,
2017) with respect to which State Street Global Markets, LLC (SSGM)
serves as marketing agent; SSGM and State Street Global Advisors
are affiliated.
State Street Corporation One Lincoln Street, Boston, MA
02111-2900.
© 2017 State Street Corporation - All Rights Reserved
CORP-2888
1 State Street Global Services Worldwide ETF Servicing Report2
ETFGI Global ETF and ETP January 2017 report
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version on businesswire.com: http://www.businesswire.com/news/home/20170427005936/en/
State Street CorporationBrendan Paul, +1
617-662-2903Bpaul2@statestreet.com@StateStreet
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