State Street Receives Industry Award for Excellence in Data Governance
May 31 2019 - 9:00AM
Business Wire
State Street Corporation (NYSE: STT), one of the world's leading
providers of financial services to institutional investors, today
announced that State Street Global Exchange was recognized for
excellence in data management and governance by Inside Market Data
and Inside Reference Data. The 17th annual awards ceremony named
DataGX, as the “Best Data Governance Solution.” This year’s Inside
Market Data and Inside Reference Data award recipients were
determined based on an evaluation of industry excellence within
market data, reference data and enterprise data management.
“Data governance is a prominent painpoint for financial
institutions, requiring many firms to take significant action and
implement an enterprise-wide program,” said Max Bowie, managing
editor of WatersTechnology. “As the use of data and multi-asset
class investment strategies continues to grow, it is necessary for
firms to invest in scalable technology and resources that will
address data issues. The judges recognized that State Street Global
Exchange DataGX solution -- an end-to-end integrated data
governance, data quality and data security offering – provides a
platform to fulfil clients’ data requirements.”
Operating in a complex and highly competitive environment,
financial instituations grapple with a vast array of data-related
challenges such as quality, accessibility and data security. In
turn, data governance has become a critical component to any
financial firm’s overarching data management strategy. State
Street’s DataGX financial management platform is offered as a
private cloud-based, data-as-a-service solution that helps address
business-critical data-related issues within any enterprise
organization. The comprehensive governance framework utilizes an
advanced Operational Control Framework (OCF), purpose-built to
ensure end-to-end data quality management without compromising
availability.
“For years, State Street Global Exchange has helped service the
various complex financial instruments leveraged by our global
client base,” said Subbiah Subramanian, global head of DataGX,
State Street. “As a key pillar of our front-to-back platform,
today’s recognition of DataGX is once again a true testament to
countless hours spent by an experienced team of professionals
securely managing our clients’ data. We will continue to evolve
DataGX’s funcationlity so as to meet the fluid needs of our growing
client base.”
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 $32.6 trillion in assets
under custody and administration and $2.8 trillion* in assets under
management as of March 31, 2019, State Street operates globally in
more than 100 geographic markets and employs approximately 40,000
worldwide. 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 $33
billion as of March 31, 2019), 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.
© 2019 State Street Corporation - All Rights Reserved
2556471.1.1.GBL.
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0575KKorfias@StateStreet.com@StateStreet
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