State Street teams up with SunGard to offer FX system

State Street teams up with SunGard to offer FX system

Boston-based State Street Corporation is to offer FX Connect, its multi-bank foreign exchange trading system, as part of SunGard's corporate treasury workstation products.

FX Connect will be offered via State Street's Global Link platform, which delivers research, decision support tools and trading technology for six asset classes to clients in 23 countries.

Under the agreement, State Street will initially package FX Connect and Quick-FX system for multi-bank trading, the GTSS II trade matching and confirmations solution and new release Auto FX Connect with SunGard's treasury platforms.

Stanley Shelton, executive vice president, State Street Corporation, says: "Until today, FX Connect has concentrated almost exclusively on serving large global institutional investors and institutions. Our partnership with SunGard allows us to bring these efficiencies and benefits to the corporate marketplace in the most powerful way possible."

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