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State Street Recognized as Number One Provider in Foreign Exchange Services

07/13/2021

Ranked by Euromoney Magazine as Number One Provider in 25 Categories[1];

  • GlobalLink ranked no.1 in overall Market Share for Multi-Dealer Platforms
  • GlobalLink maintained no.1 position as a Leader in Real Money for the fourth consecutive year
  • FX Sales and Trading maintained no.1 position for Client Satisfaction in Real Money for the fourth consecutive year

LONDON, July 13, 2021State Street Corporation (NYSE: STT) today announced that it has been named as the top provider in foreign exchange services across 25 categories by Euromoney Magazine in its annual list of global banks providing FX services. The ranking, now in its 43rd year, is the most comprehensive quantitative and qualitative annual study available on the foreign exchange markets.

State Street was recognized as No. 1 in several categories, including:

  • 1 in Overall Market Share for Multi-Dealer Platforms
  • 1 in Real Money Client Satisfaction for Multi-Dealer Platforms
  • 1 in Best Service for Multi-Dealer Platforms for the fourth consecutive year
  • 1 in Overall Customer Satisfaction for Real Money Clients
  • 1 in Emerging Market Volume for Real Money Clients
  • 1 in E-Trading for Real Money Clients
  • 1 in Emerging Market Currencies Ability for Real Money Clients and Leveraged Funds
  • 1 in Client Algo Trading Execution for Real Money Clients and Leveraged Funds
  • 1 in Research, Salesforce and Service for Real Money Clients
  • 1 in Macro Research and Quantitative Research
  • Ranked among the top 10 largest foreign exchange providers globally for the fourth consecutive year

State Street’s suite of FX e-trading platforms, GlobalLink (FX Connect and Currenex), which provides technology, data and workflow solutions, increased overall market share to claim the number one Market Leader position for multi-dealer platforms. GlobalLink has also been recognised as the number one multi-dealer platform for Best Service and client satisfaction while also maintaining its number one position as a leader in real money for the fourth consecutive year.

“In spite of disruptions caused by remote working and high levels of market volatility, clients continue to look to State Street for support in this challenging environment. Our strong results across this year’s rankings – coupled with increased market share is a tribute to our team’s hard work and commitment to bringing industry leading foreign exchange services to our clients,” said Tony Bisegna, global head of State Street Global Markets. “As a principal FX liquidity provider, we continue to provide data-driven, market-focused research through our Insights platforms, and are committed to delivering innovative solutions, as we have for decades, to support our clients’ investment process. We look forward to continuing to develop products and services to meet the ever-changing needs of investors both today and tomorrow.”

“These tremendous results validate our long-standing commitment to providing a best-in-class client service experience. GlobalLink is where innovation in technology intersects with client service to create a unique client experience,” said Martine Bond, head of GlobalLink. “We’re delighted by the breadth of the recognition we have received, and are particularly pleased to attain the number one position for Market Share and be recognized for delivering the Best Service while still maintaining our number one position as Market Leader in Real Money. Our employees continue to build on our strong market position and remain focused on delivering market-leading solutions that increase transparency, improve trading efficiency and aim to deliver the best execution on behalf of our clients globally.”

Learn more about State Street’s foreign exchange offerings, Insights Platform and the GlobalLink platforms, FX Connect and Currenex.

About the FX Survey

The 2021 Euromoney FX Survey was the 43rd annual survey of liquidity consumption within the global FX markets conducted by Euromoney. In the 2021 survey, Euromoney received 2,788 valid responses from consumers of FX liquidity, representing total FX consumption of $104.9 trillion in the calendar year 2020. Total response excluding short-dated swaps* was 2,771, representing total FX consumption of $84.64 trillion*.

*The 2021 rankings are based on swaps-adjusted volumes that exclude volumes from short-dated swaps.

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 $40.3 trillion in assets under custody and/or administration and $3.6 trillion* in assets under management as of March 31, 2021, 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 March 31, 2021 includes approximately $60 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.

© 2021 State Street Corporation - All Rights Reserved

[1] Including subcategories - Euromoney Foreign Exchange Survey-Results

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