BOSTON--(BUSINESS WIRE)--State Street Corporation (NYSE: STT), one of the world's leading providers of financial services to institutional investors, today announced that State Street Global Exchange was recognized for excellence in data management and governance by Inside Market Data and Inside Reference Data. The 17th annual awards ceremony named DataGX, as the “Best Data Governance Solution.” This year’s Inside Market Data and Inside Reference Data award recipients were determined based on an evaluation of industry excellence within market data, reference data and enterprise data management.
“Data governance is a prominent painpoint for financial institutions, requiring many firms to take significant action and implement an enterprise-wide program,” said Max Bowie, managing editor of WatersTechnology. “As the use of data and multi-asset class investment strategies continues to grow, it is necessary for firms to invest in scalable technology and resources that will address data issues. The judges recognized that State Street Global Exchange DataGX solution -- an end-to-end integrated data governance, data quality and data security offering – provides a platform to fulfil clients’ data requirements.”
Operating in a complex and highly competitive environment, financial instituations grapple with a vast array of data-related challenges such as quality, accessibility and data security. In turn, data governance has become a critical component to any financial firm’s overarching data management strategy. State Street’s DataGX financial management platform is offered as a private cloud-based, data-as-a-service solution that helps address business-critical data-related issues within any enterprise organization. The comprehensive governance framework utilizes an advanced Operational Control Framework (OCF), purpose-built to ensure end-to-end data quality management without compromising availability.
“For years, State Street Global Exchange has helped service the various complex financial instruments leveraged by our global client base,” said Subbiah Subramanian, global head of DataGX, State Street. “As a key pillar of our front-to-back platform, today’s recognition of DataGX is once again a true testament to countless hours spent by an experienced team of professionals securely managing our clients’ data. We will continue to evolve DataGX’s funcationlity so as to meet the fluid needs of our growing client base.”
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 $32.6 trillion in assets under custody and administration and $2.8 trillion* in assets under management as of March 31, 2019, State Street operates globally in more than 100 geographic markets and employs approximately 40,000 worldwide. For more information, visit State Street's website at www.statestreet.com.
*Assets under management include the assets of the SPDR® Gold ETF and the SPDR® Long Dollar Gold Trust ETF (approximately $33 billion as of March 31, 2019), for which State Street Global Advisors Funds Distributors, LLC (SSGA FD) serves as marketing agent; SSGA FD and State Street Global Advisors are affiliated.
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