State Street Announces that Collateral+ is Now Connected to DTCC’s Margin Transit Utility (MTU)
August 24 2021 - 7:30AM
Business Wire
Firm continues to build out new Capabilities to Bolster its
Financing Solutions and Collateral Optimization Group
State Street Corporation (NYSE:STT) today announced that its
Collateral + business is operational with DTCC’s Margin Transit
Utility (MTU), which has been designed for simplifying the transfer
of collateral among market participants.
By leveraging MTU, State Street’s Collateral+ business will now
be able to more efficiently validate, enrich, settle, report and
monitor third party collateral while easily connecting to and
sharing information with multiple counterparties on behalf of its
clients. MTU service helps reduce operational risk by standardizing
and automating the margin process from the point of agreement
through to settlement. It also helps eliminate the need of using
faxes and emails for processing margin and settlement activity.
“We continue to focus on making key investments in all areas of
the firm’s Collateral Optimization Group, and given the recent and
continuing market volatility, coupled with the final phases of
uncleared margin rules (UMR) for over-the counter (OTC)
derivatives, an increasing number of our clients are looking to
replace manual processes with new tools that focus on automation
such as DTCC’s MTU,” said Staffan Ahlner, global head of
Collateral+ for State Street. “We expect this functionally to be
essential for our ability to improve operational efficiency and
remove unnecessary complexity so that overall risk is mitigated and
collateral is ultimately released quicker.”
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 $42.6 trillion in assets
under custody and/or administration and $3.9 trillion* in assets
under management as of June 30, 2021, State Street operates
globally in more than 100 geographic markets and employs
approximately 39,000 worldwide. For more information, visit State
Street's website at www.statestreet.com.
*Assets under management as of June 30, 2021 includes
approximately $64 billion of assets with respect to SPDR® products
for which State Street Global Advisors Funds Distributors, LLC
(SSGA FD) acts solely as the marketing agent. SSGA FD and State
Street Global Advisors are affiliated.
© 2021 State Street Corporation - All Rights Reserved
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Media Contact: State Street Brendan Paul
Bpaul2@statestreet.com +1 401 644 9182
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