Announcing State Street VerusSM - A Mobile Solution to Help Investment Professionals Assess Their Portfolio Exposure to Break...
July 18 2018 - 8:30AM
Business Wire
Verus Uses Machine Learning, Natural Language Processing and
Human Expertise to Surface and Rank Direct and Indirect Connections
between News and Investors’ Holdings
State Street Corporation (NYSE: STT) today announced the launch
of State Street VerusSM, a mobile-first application that makes
connections between news coverage and investors’ holdings through
the application of big data, machine learning, natural language
processing and human intelligence. Verus is designed to help
investment professionals in the front office gain greater insights,
mitigate risk, and generate alpha.
“About 150,000 articles are generated on business and finance
topics each week, and investment and risk professionals struggle to
reliably filter out noise and feel confident that they are not
missing anything that could impact their portfolio,” said Stephen
Marshall, head of State Street Verus. “Our new solution highlights
not only the direct connections but also the less obvious indirect
connections between these news items and clients’ portfolios;
shortening the amount of time between when a relevant news story
breaks and when a client can comfortably answer the question, ‘What
is my exposure?’”
Verus gathers coverage from thousands of major global,
English-language news publications and combines machine learning
algorithms with portfolio data from truView®, State Street’s
end-to-end risk analytics platform, to curate users’ newsfeeds.
Verus also incorporates the insights of a dedicated editorial team
comprising former financial news editors and journalists
continuously providing feedback to the algorithms so that the
connections made are relevant and that the underlying algorithms
are continually improving.
Once direct connections are identified, Verus analyzes
third-party relationship data in order to surface relevant indirect
relationships within the portfolio. Connections are then ranked by
a “V Score” based on three main factors:
- Article content: Verus
algorithms detect whether the language in an article has
historically shown a strong likelihood of being a high priority
news item.
- Risk: Verus looks at both
portfolio and relevant security level analytics calculated by
truView platform — and how they have changed over time.
- Network connections: Using
third-party relationship data, Verus determines the extent to which
relevant holdings within the portfolio have weak or strong common
relationships across their respective supply chains — which can be
an important indication of systemic risk.
By combining the relevance of a news story with the portfolio
and security-specific analytics of connected assets, as well as the
interconnectedness of those assets, the V Score provides a
multifaceted answer to the questions ‘Should I care?’ and ‘How much
should I care?’ to help inform future decision making.
“Servicing more than 10 percent of the world’s tradable
securities provides us with a wealth of information,” said Lou
Maiuri, global head of State Street Global Exchange. “This
information advantage puts State Street in a position to offer
unique insights, and we are constantly finding new and innovative
ways to do that in order to support our clients. Verus enables a
new way to help our clients identify and analyze risk and
opportunity.”
Click here for more information about State Street Verus.
About State Street CorporationState 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 $33.30 trillion in assets under custody and
administration and $2.70 trillion* in assets under management as of
March 31, 2018, 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 include the assets of the SPDR® Gold
ETF and the SPDR® Long Dollar Gold Trust ETF (approximately $36
billion as of March 31, 2018), for which State Street Global
Advisors Funds Distributors, LLC (SSGA FD) serves as marketing
agent; SSGA FD and State Street Global Advisors are affiliated.
State Street Corporation One Lincoln Street, Boston, MA
02111-2900.
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. Investing involves
risk including the risk of loss of principal. You should consult
your tax and financial advisor.
© 2018 State Street Corporation - All Rights Reserved
Expiration Date: 07/31/2019
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State Street CorporationBrendan Paul, +1
617-662-2903BPaul2@StateStreet.com
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