State Street Alpha and RIMES partner to enhance index and benchmark services

New partnership extends State Street Alpha’s capabilities through the enhancement of its Alpha Data Services offering.

By Wesley Bray

State Street Corporation has partnered with global data partner for asset managers, asset owners and service providers, RIMES, to enhance State Street Alpha.

State Street Alpha clients will benefit from RIMES’ expertise and experience with the global index provider marketplace, leveraging its operational capabilities and infrastructure.

Over the past decade, industry-wide investing dynamics have shifted, with indexes and benchmarks becoming critically important to the investment lifecycle.

The new partnership will allow State Street to better meet clients’ increasingly complex index needs and provide a solution to aggregate indexes and benchmarks across various providers.

“The management of comprehensive index and benchmark data at scale is vital to our clients and through this partnership with RIMES, State Street Alpha will now deliver the foremost benchmark and index service,” said John Plansky, head of State Street Alpha.

“We continue to explore all opportunities to advance the capabilities of State Street Alpha and our Alpha Data Platform for our clients and are thrilled to announce this partnership with RIMES.”

According to State Street, Alpha’s index and benchmark capabilities enabled by RIMES will provide clients with access to 3.4 million indices, 1600+ data sources, and more than 650 data partners, and will be complementary to other available financial data sources.

In addition, clients will also benefit from operational efficiencies via increased consistency and faster implementation for new indexes, restatements, and changes.

“As the industry continues to move towards integrated front-to-back office solutions, data quality and breadth can sometimes be sacrificed,” said Brad Hunt, CEO of RIMES.

“We are delighted to partner with State Street to ensure that its clients have access to the best possible benchmark and index data, delivered through State Street Alpha.”