State Street Collateral+ Platform Now Live with Pirum’s CollateralConnect Service
March 24 2022 - 8:30AM
Business Wire
Firm continues to add new capabilities to it Collateral+
Platform
State Street Corporation (NYSE:STT) announced today the
integration of its Collateral+ platform with Pirum’s
CollateralConnect service to support mutual clients with collateral
management and optimization. This collaboration builds on a series
of investments in the Collateral+ suite, which was recently
expanded to include the Tri-Party service, which enables buy-side
firms to optimize collateral usage and efficiency when posting
margin to meet initial and variation margin commitments.
CollateralConnect leverages Pirum’s extensive connectivity with
State Street to provide intelligent, straight thru processing which
streamlines intra-day margining, automates collateral coverage and
drives efficient collateral usage and mobilization. This provides
connectivity, workflow, and automation to State Street Tri-Party
collateral service.
“As markets continue to evolve, firms will have more and more
complex collateral management needs,” said Staffan Ahlner, global
head of Collateral Management, State Street. “We are delighted to
announce this collaboration with Pirum, which will further elevate
our collateral posting capabilities on behalf of our clients while
enhancing our operational efficiency.”
“We are proud to help clients leverage the State Street
Collateral+ and triparty platform to achieve better operational and
financial efficiencies with relatively minimal time and effort on
their part,” said Phil Morgan, CEO of Pirum. “Our CollateralConnect
solution offers firms an easier way to connect to State Street, to
share data, automate processing and drive better client
outcomes.”
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 $43.7 trillion in assets
under custody and/or administration and $4.1 trillion* in assets
under management as of December 31, 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 December 31, 2021 includes
approximately $61 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.
© 2022 State Street Corporation - All Rights Reserved
About Pirum and CollateralConnect
Pirum helps firms manage over $3tr of trades and collateral on a
daily basis across their securities lending, repo and derivatives
businesses through our front-to-back collateral, margin and
transaction services. Pirum’s established network hub provides
firms with unparalleled market connectivity and turnkey access to
the wider collateral ecosystem including its counterparts, market
infrastructure providers and third-party services.
CollateralConnect is an enterprise-wide, cross asset collateral
management and optimization service which can be utilized for all
types of collateralized transactions across multiple collateral
venues. We help firms, including Agent Lenders and Broker Dealers
with the ability to effectively manage and optimize collateral,
funding and liquidity to help our clients improve returns, manage
risk, and meet compliance requirements.
Pirum clients benefit from a single integration point that
enables access to all our services on a fully hosted basis
inclusive of ongoing development, support and maintenance. As a
result, Pirum’s ‘SaaS’ model provides a flexible, scalable solution
to help firms achieve their optimization goals and deliver on those
in a faster, more cost-effective way. For more information visit
www.pirum.com
4637268.1.1.GBL.RTL
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220324005522/en/
Media: State Street Brendan Paul
Bpaul2@statestreet.com +1 401 644 9182
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