BOSTON--(BUSINESS WIRE)--State Street Corporation (NYSE: STT) today announced that it was awarded a Five-Star Global Ranking in Euromoney Magazine’s inaugural ranking of global banks with the best foreign exchange services. The list recognizes providers that scored high ratings across five qualitative areas of client service: salesforce coverage; breadth of product coverage and capacity to deal in size; execution quality; research; and risk management solutions. State Street was one of only two institutions to earn a star in each of these categories at the global level.
“As our clients navigate the increase in complexity across all asset classes, helping them access liquidity and generate alpha while managing risk is paramount,” said Michele Hardeman, Global Head of Foreign Exchange Sales at State Street. “This five-star distinction illustrates the commitment our Foreign Exchange business has made to continually evolving and innovating to add value to our clients’ investment lifecycle.”
Euromoney’s rankings identify banks that are recognized by their clients for delivering a best-in-class service. For a bank to qualify for star consideration in each category, it must receive at least 10 votes or five percent of the total votes cast (whichever is greater) for at least one question in that category.
Euromoney Magazine also previously released the results of its 2017 Annual FX Survey, with State Street’s Foreign Exchange business leading in several categories, including number one in flow research for the ninth year in a row in addition to being ranked the 11th largest foreign exchange player globally (up from 13th in 2016).
Additionally, FX Connect, a multi-counterparty FX trading system and Currenex, which provides high-performance FX technology and deep pools of liquidity, were also recently honored with three readers’ choice awards from Profit & Loss, including ‘Best Platform for Hedge Funds’ and ‘Best FX Multi-dealer Platform’ for Currenex and ‘Best Platform for Asset Manager's’ for FX Connect. FX Connect was also ranked number two in multibank and independent platform market share by Euromoney Magazine, up 6.5 percentage points from last year.
For more information on Euromoney Magazine’s Five-Star FX Rankings, 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 $31.0 trillion in assets under custody and administration and $2.61 trillion* in assets under management as of June 30, 2017, State Street operates in more than 100 geographic markets worldwide, including the US, Canada, Europe, the Middle East and Asia. For more information, visit State Street’s website at www.statestreet.com.
*AUM reflects approx. $34 billion (as of June 30, 2017) with respect to which State Street Global Advisors Funds Distributors, LLC serves as marketing agent; State Street Global Advisors Funds Distributors, LLC and State Street Global Advisor are affiliated.
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