State Street Launches Venturi to Support Peer-to-Peer Financing
November 17 2022 - 10:30AM
Business Wire
Offering helps connect buy-side firms with new sources of
liquidity in the global repo and securities finance space
State Street Corporation (NYSE: STT) today announced the launch
of the firm’s new peer-to-peer financing platform, Venturi,
specifically designed to connect buy-side firms with new sources of
liquidity in the global repo space. Venturi, built through a
partnership with FinOptSys, a cutting edge FinTech focused on the
securities financing market, supports trade negotiations and
enhances trade settlement and collateral management, allowing
traders to better manage and diversify their counterparty
exposure.
“As a result of elevated market volatility and the changing
liquidity and rate environment, buy-side firms are increasingly
seeking new and diversified sources of financing,” said Gino
Timperio, global head of Financing Solutions at State Street. “We
are excited to further expand our product suite with the launch of
Venturi to help foster the growth of and scale the peer-to-peer
marketplace. Akin to our 2005 launch of FICC’s Sponsored Repo
Service, which has also provided our clients with critically needed
liquidity solutions, we believe Venturi will empower our clients to
discover new liquidity pools and make better, data-driven
investment decisions. The launch of this platform – designed in
large part through extensive development and feedback from our
clients – is certainly a very noteworthy milestone for our business
and the evolution of our peer-to-peer initiatives.”
Venturi was built to provide clients:
- Increased Efficiency: Users negotiate economic terms of
peer repo transactions on Venturi. A program master repo agreement
streamlines the documentation process and supports ready
scalability. Users may engage with any or all counterparties active
on the platform.
- Improved Flexibility: Venturi supports a flexible suite
of eligible collateral and margin requirements.
- Seamless Confirmation of State Street’s Guaranty to Repo
Buyers: Venturi allows buy-side participants to seamlessly
submit and confirm the repo transaction terms satisfy the criteria
necessary for State Street to guarantee the repurchase price
payment obligations of the repo seller to the repo buyer following
a repo seller default. State Street’s short-term credit rating:
A+/AA1.
- Transparency of trade and margin call settlement: With
links to State Street’s Collateral+ Triparty Solution for
Peer-to-Peer Repo, Venturi displays confirmed trade matches,
collateral valuation and margin calls, and collateral movements
between counterparties.
In helping to centralize liquidity pools and enhance
transparency, Venturi seeks to open up for the buy-side new trading
opportunities, lower their transaction costs and improve their
returns.
For more information on State Street’s peer-to-peer repo
offerings, please click here.
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
$35.7 trillion in assets under custody and/or administration and
$3.3 trillion* in assets under management as of September 30, 2022,
State Street operates globally in more than 100 geographic markets
and employs approximately 41,000 worldwide. For more information,
visit State Street's website at www.statestreet.com.
*Assets under management as of September 30, 2022 includes
approximately $55 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.
5191099.1.1.GBL.RTL
1 Credit Ratings | State Street
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version on businesswire.com: https://www.businesswire.com/news/home/20221117005809/en/
Media Contact: Brendan Paul Bpaul2@statestreet.com +1
401.644.9182
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