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State Street Completes Currenex Acquisition

State Street Corp. has completed its $564 million acquisition of online foreign exchange trading system provider Currenex.


The all-cash deal, announced on January 22, 2007, accelerates State Street‘s participation in the fast growing electronic foreign exchange trading market while significantly increasing and diversifying its trading customer base beyond traditional asset managers to include more active currency managers and hedge funds


The company said in January that it expects the transaction to be neutral to 2007 results and to add slightly to 2008 earnings.

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