Tag: State Street

State Street

GlobalLink Joins FXPA

GlobalLink, State Street’s suite of e-trading platforms, technology, data and workflow solutions, has joined the Foreign Exchange Professionals Association (FXPA). The FXPA is a Washington-based organisation that represents the collective interests of professional FX industry participants by engaging with regulators and policymakers through education, research and advocacy. “GlobalLink is very pleased to join the FXPA […]

State Street Reports Rise in Investor Confidence

The State Street Investor Confidence Index (ICI) showed an increase in confidence of 6.6 points in May. State Street’s Global ICI increased to 79.5 in May, up from 72.9 the previous month. The results found that confidence among North American and European investors improved, with the North American ICI rising from 71.3 to 76.7, and […]

GlobalLink CTO Set to Depart

Harsha Bhat is set to leave his role as senior vice president and CTO of GlobalLink at State Street. In this role he was responsible for overseeing the technology underpinning the Currenex, FX Connect, Fund Connect and Trade Services, managing an engineering department of over 150 people. A spokesperson for State Street confirms Bhat is […]

Colinders Handed New Role at State Street

James Colinders has taken on a newly created role at State Street working on its money market platform, FundConnect. In this role Colinders will be focused on creating a private label distribution business, developing institutional partnerships and expanding the platform’s client footprint. He will remain based in New York and will report into Eric Wolf, […]

Freeston, Flowerdew Set to Leave Currenex

Damian Freeston and Daniel Flowerdew are set to leave their roles at Currenex, which is owned by State Street.Both based in London, Freeston is currently a managing director and head of sales and relationship management in EMEA, and Flowerdew is a VP of sales and relationship management in EMEA for the platform.Profit & Loss understands that the pair are set to leave Currenex this month and will subsequently be launching a wealth management business in the UK. Freeston has worked at the platform for nine years, having initially joined State Street in 2010 as a sales and relationship manager for both Currenex and FX Connect. Prior to that, he held senior sales management roles at 360T and HiFX.

Data Remains the Key Battleground for FX Platforms

Platform providers are becoming more conscious about the value of data, both for their businesses and their clients. Galen Stops takes a look at what this means for the FX industry.I f there is one consistent trend that emerges talking to all of the major OTC FX trading venues in 2019, it is that they’re all keen to emphasise the importance of data, both with regards to how they operate their businesses and how their clients operate theirs. On the one hand, FX trading venues are increasingly looking for ways to package and sell their market data, creating new revenue streams for the business. On the other, seemingly all of them are investing in developing trade analytics tools that will enable users of these platforms to derive greater insights from their trading activity and more effectively evaluate the liquidity and pricing available there.

Data Remains the Key Battleground for FX Platforms

Platform providers are becoming more conscious about the value of data, both for their businesses and their clients. Galen Stops takes a look at what this means for the FX industry.I f there is one consistent trend that emerges talking to all of the major OTC FX trading venues in 2019, it is that they’re all keen to emphasise the importance of data, both with regards to how they operate their businesses and how their clients operate theirs. On the one hand, FX trading venues are increasingly looking for ways to package and sell their market data, creating new revenue streams for the business. On the other, seemingly all of them are investing in developing trade analytics tools that will enable users of these platforms to derive greater insights from their trading activity and more effectively evaluate the liquidity and pricing available there.

P&L Talk Series With: Kate Lowe

Kate Lowe, global head of trade services at State Street, talks to Profit & Loss about how new margin requirements could shape buy side behaviour in the FX market, and why 2019 is likely to be a “staging” year for many of these firms.Profit & Loss: As you’ve been talking to clients at the start of 2019, what’s been the major areas of focus for them?Kate Lowe: Well one of the big talking points at the moment is the impact that the uncleared margin rules (UMR) are going to have on the industry. In September this year, the threshold for firms that have to post initial margin for u

Management Changes at State Street in Asia as Seck Steps Down

Profit & Loss understands that Wai-Kwong Seck, CEO of State Street in the Asia Pacific region (APAC) and member of the bank’s Management Committee, is leaving after an eight year career. According to an internal memo seen by Profit & Loss Seck will be replaced by Ian Martin, currently EVP Asia Pacific at the bank and formerly head of Global Markets for the bank in the region.
In the memo, Ron O’Hanley president and CEO of State Street thanks Seck for his time at State Street and says, “Wai-Kwong and I have been speaking for some time about his desire to be back in his hometown, Singapore, and to do something different

Does TCA Really Need to be Independent?

Speaking at the Forex Network Chicago conference, Mike Harris, president of Campbell & Company, discussed the pros and cons of independently provided transaction cost analysis (TCA).

Pressed on whether a fintech firm being acquired by a larger company is necessarily a bad thing for their clients, Harris pointed to the example of BestX, the TCA provider that was acquired by State Street in August.

Harris explained that Campbell & Company partnered with BestX because their TCA product was focused specifically on FX rather than being adapted from equities, and that they were the first to offer peer-to-peer functionality so that firms could opt-in to compare their trades to other people’s, as well generally being at the forefront of the TCA space.