State Street Launches StreetFX℠ Solution for T+1 Settlement
In preparation for the US equity market’s transition to a T+1 settlement cycle scheduled for May 28, 2024, State Street Corporation (NYSE: STT) today announced that it is offering an automated workflow solution and integration with DTCC within State Street’s foreign exchange (FX) trading service, StreetFX℠.
- In preparation for the US equity market’s transition to a T+1 settlement cycle scheduled for May 28, 2024, State Street Corporation (NYSE: STT) today announced that it is offering an automated workflow solution and integration with DTCC within State Street’s foreign exchange (FX) trading service, StreetFX℠.
- “State Street is helping to drive solutions that address critical performance drivers by rolling out an automated FX execution solution to facilitate the US securities market’s transition to T+1 settlement,” said Tony Bisegna, head of State Street Global Markets.
- We are pleased that our collaboration with State Street reinforces that CTM represents an efficient and cost-effective solution to address the FX trading challenges that come with a shorter settlement cycle,” said Val Wotton, DTCC managing director and general manager, ITP.
- It seamlessly integrates within clients’ existing infrastructure to create an end-to-end solution that increases consistency and decreases operational risk.