State Street Fund Connect Celebrates 20 Years of Continuous Innovation in Money Market Fund Trading

Industry-leading trading platform unveils new interface to deliver seamless and intuitive cash management experience for users

BOSTON--(BUSINESS WIRE)--State Street Corporation (NYSE:STT) celebrates the 20th anniversary of its Fund Connect platform – the leading global trading, analytics and cash management tool with access to more than 400 money market funds from leading providers. To celebrate the milestone, Fund Connect has introduced a platform upgrade with an all new user interface experience, featuring the addition of a “widget enabled” customizable dashboard.

Fund Connect entered the market as one of the first providers of an all-encompassing cash management platform. Over the past two decades, the platform has continually evolved to stay at the forefront of regulatory, industry and client needs. The portal developed several first-to-market capabilities including: end to end electronic trading, risk management functionality, automated trade settlement, and a single, global, multi-currency platform supported by local personnel in the US, EMEA and APAC.

“Over the past two decades, Fund Connect has focused on delivering a best-in-class, integrated platform that saves countless hours and introduces new levels of efficiencies for clients who have come to rely on us day-in and day-out,” said Martine Bond, head of GlobalLink, State Street’s suite of e-trading platforms, technology, data and workflow solutions. “Our leading industry position is a testament to our team’s ability to continuously innovate and refine the platform based on our clients’ evolving needs.”

State Street has redesigned the Fund Connect platform to enhance the overall user experience and has incorporated several new streamlined functionalities, which include:

• A no-code, customizable dashboard allowing clients to create their own user experience
• Improved page navigation and modernized graphics
• Expanded reporting capabilities with real-time systematic updates

“Our team has stayed one step ahead of the digital revolution throughout the past 20 years with a key focus on building a continually evolving experience for our clients,” said Gregory Fortuna, head of State Street’s GlobalLink Solutions. “We want to empower clients with choice and flexibility around trading styles and entry points, delivering that through cutting-edge open architecture technology. As we build on the platform, we want to continue to innovate, creating operational efficiencies through customizable, integrated solutions.”

The latest version of this platform is now available to all current clients across the globe. Fund Connect is available for all short-term liquidity investors including corporations, asset managers, universities, insurance companies, financial intermediaries and alternative asset managers.

“Fund Connect is an incredibly user-friendly, simple tool that facilitates our needs,” said Daniel Paredes, sr. analyst, Treasury at Biogen. “As a small Treasury team, we require straightforward solutions that are constant and reliable. Fund Connect exceeds our expectations in every way.”

For further details or the complete list of upgrades to the platform, please email [e-mail].

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 $36.6 trillion in assets under custody and/or administration and $3.1 trillion* in assets under management as of September 30, 2020, State Street operates globally in more than 100 geographic markets and employs approximately 39,000 worldwide. For more information, visit State Street's website at www.statestreet.com.

*Assets under management as of September 30, 2020 includes approximately $81 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.

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