20 October 2017
Find out more

State Street's FXConnect's daily trading volume surpasses $40bn

06 July 2005  |  1676 views  |  0 Source: State Street Global Markets

State Street Global Markets, the investment research and trading arm of State Street Corporation (NYSE:STT), announced today that its FXConnect multi-bank electronic trading system has surpassed $40 billion in daily trading volume*.

FXConnect is available via State Street's Global Link network.

"FXConnect's value proposition for real-money managers is evident, and we remain the dominant force in the online electronic foreign exchange marketplace," said Simon Wilson-Taylor, managing director and worldwide head of Global Link for State Street. "Our customers truly understand and value our unique business model, and this high-volume mark is a testament to their continued support."

Launched in 1996, FXConnect became the first multi-bank trading platform for foreign exchange in March 2000. It remains the market leader, demonstrating State Street's continuing commitment to enhance the platform to meet the growing needs of its customer base.

"With continuing uncertainty about the future ownership and direction of many platforms within the FX marketplace, our customers are comforted to see State Street's leadership in this area," said Stan Shelton, executive vice president and head of State Street Global Markets. "Our stable, well managed platform that improves fund performance, reduces operational and compliance risks and embeds industry best practice in its workflow is, quite understandably, the platform of choice for the investment industry."

FXConnect is offered via State Street's Global Link network, which delivers unique fact-based research, decision support tools and trading technology to clients around the world:
  • FXConnect is used by asset managers who control 63% of the of the world's total managed assets
  • 48 banks in 138 dealing room locations worldwide provide liquidity to FXConnect
  • 92% of transactions completed on FXConnect are spot and outright forward transactions
  • GTSS, FXConnect's post-trade confirmation matching and settlement product is matching nearly 20,000 trades per week

    *Foreign exchange trading volume is variable from period to period, with often wide swings depending on several factors, and foreign exchange trading volume is not necessarily indicative of derived revenue.
  • Comments: (0)

    Comment on this story (membership required)

    Related company news

     

    Related blogs

    Create a blog about this story (membership required)
    visit www.niceactimize.com visit www.innotribe.com

    Who is commenting?

    Top topics

    Most viewed Most shared
    Ripple looks to drive bank adoption with $300m XRP rebate programmeRipple looks to drive bank adoption with $...
    15902 views comments | 12 tweets | 4 linkedin
    Swift positive on blockchain, but big challenges remainSwift positive on blockchain, but big chal...
    9007 views comments | 16 tweets | 23 linkedin
    satelliteGates Foundation backs Ripple collaboratio...
    8138 views comments | 13 tweets | 10 linkedin
    IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
    7182 views comments | 9 tweets | 17 linkedin
    Santander InnoVentures leads $6m funding round for Mexico's ePesosSantander InnoVentures leads $6m funding r...
    6327 views comments | 6 tweets | 3 linkedin

    Featured job

    circa £250K total package
    London

    Find your next job