Tag: State Street

BlackRock has launched a Request for Proposal (RFP) to global custodians to bid for its US and Irish iShares funds’ assets. 

State Street has partnered with Brevan Howard's outsourced operations service to deliver a new integrated front-to-back office services platform for hedge funds.

State Street will provide custody and fund administration to WIC's new ETF index, offering public access to hedge fund-like strategies. 

Proxymity is now backed by a consortium of global custodians, custody banks and issuer agents including BNY Mellon, Clearstream, Deutsche Bank, HSBC, JP Morgan, and State Street.

The new combined platform will give asset managers further transparency into their transaction lifecycles with a consolidated view of FX settlement data across accounts.

Custodians may be forced to delay implementing billions of assets onto their custody platform as clients look to minimise the risk of switching providers on their operations.

State Street will leverage FIS-owned Virtus business process-as-a-service solution to provide services jointly to CLO and CDO clients in the US and Europe. 

According to the two global custodians, both had reported a rise of at least 50% in back-office transactions in March verses the first two months of the year. 

State Street joins the likes of BNY Mellon, JP Morgan and Citi which all reported an increase in asset servicing revenues for the first quarter of 2020. 

State Street reprises a key role it once played in the 2008 financial crisis as the US central bank aims to stimulate markets.