State Street Announces New Capability to Support Fund Order Services in Mexico
April 11 2022 - 8:30AM
Business Wire
State Street Corporation (NYSE: STT) announced today that it has
launched an integrated fund trading solution along with its custody
offering for clients in Mexico. The secure online platform will
allow for access to a broad range of investment funds in
collaboration with Clearstream (Vestima®) providing fund order
services through a single-entry point.
Our fund order services offering will support connectivity with
a wide range of transfer agents to meet clients’ unique
requirements, including the ability to manage both segregated and
omnibus accounts. It will also allow State Street Bank to secure
expansive product and jurisdictional coverage across Latin America
(LATAM).
“We are very pleased to announce this new capability for our
clients,” said Marcia Rothschild, head of Latin America for State
Street. “This trading solution is a critical step towards further
expanding our products and capabilities in Mexico.”
Additional product features include a robust infrastructure
underpinned by SWIFT, real-time monitoring of order status, a
dedicated client service team and registration services and account
opening support by Vestima®.
State Street’s first live client in the region is Afore
Profuturo.
“We are delighted to be the first client onboarded to State
Street’s new trading platform,” said Antonio Sibaja from Profuturo
Afore. “The new function will allow us to work more efficiently to
give our clients a better pension and a better future.”
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 $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 30, 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.
About Profuturo
Profuturo is a 100% Mexican company belonging to Grupo Bal,
specialized in managing retirement savings funds for Mexican
workers and has more than six million clients. Profuturo has been
managing the retirement of workers in the country for more than 25
years. The company was recognized for the third consecutive year as
the Best Pension Administrator in Mexico by the specialized
publication International Finance, and received the silver medal,
the highest rating among the Afores by the company Morningstar.
Likewise, the company signed an agreement with the CFA Global
Institute to certify its entire investment and risk team in
environmental, social, and corporate governance (ESG) criteria.
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Media: Brendan Paul Bpaul2@statestreet.com
+1-401-644-9182
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