State Str Corp - STT STOCK NEWS

State Street Corporation (NYSE:STT) and London Stock Exchange Group (LSE:LSEG) have announced an agreement to enhance their partnership, extending their collaboration across a range of capabilities to better serve State Street's clients. The agreement includes access to market pricing, symbology, and time series data from Refinitiv via State Street Alpha Data Platform and Charles River Investment Management Solution, supporting investment and risk decisions. State Street manages $3.9 trillion in assets as of September 30, 2021.

State Street Corporation (NYSE:STT) announced a quarterly cash dividend of $0.57 per share, to be paid on January 13, 2022, to shareholders of record as of the close of business on January 3, 2022. As one of the leading providers of financial services with $43.3 trillion in assets under custody and $3.9 trillion in assets under management (as of September 30, 2021), State Street operates globally in over 100 markets and employs around 39,000 people.

State Street Corporation (NYSE: STT), in partnership with Vanguard and Symbiont, successfully completed margin calculations for a 30-day foreign exchange forward contract using blockchain technology. This initiative aims to enhance post-trade automation and significantly lower counterparty credit risks in the over-the-counter currency market. The collaboration will streamline processes and enable real-time valuations, contributing to efficient trade management. State Street Digital's commitment to innovation emphasizes its role in the ongoing digital transformation of financial services.

Charles River Development, a State Street Company, announced that Federated Hermes, Inc. has integrated over $97 billion in equity strategies with Charles River’s cloud-based Investment Management Solution on Microsoft Azure. This modernization effort aims to enhance their operating model, facilitating growth through improved portfolio management, trading, and compliance. The solution provides scalability and streamlined operations. Federated Hermes managed $634.1 billion in assets as of September 30, 2021, while State Street Corporation oversees $43.3 trillion in assets.

State Street Global Advisors has launched IncomeWise™, a deferred lifetime income solution, within the University of California's defined contribution plans, serving over 300,000 participants with assets exceeding $34.6 billion.

IncomeWise™ combines traditional target date funds' flexibility with guaranteed lifetime income, addressing growing retirement security needs. The solution utilizes a qualified longevity annuity contract (QLAC) to convert savings into a secure income stream during retirement. State Street partnered with MetLife for annuity provision, aiming to enhance financial stability for participants.

State Street Corporation (NYSE:STT) has enhanced its Collateral+ service by integrating market-leading pre-and post-trade optimization and margin analytics in partnership with Cassini Systems. This upgrade allows for better collateral efficiency, optimizing margin costs and trade routes before and after transactions. Clients can leverage these enhancements to improve liquidity and reduce costs associated with collateral management, especially under Uncleared Margin Rules (UMR). The service's recent operational collaborations with Acadia's Initial Margin Exposure Manager and DTCC's Margin Transit Utility further streamline collateral transfers.

State Street Corporation (NYSE: STT) has successfully issued $500 million in senior notes, employing a fixed-to-floating rate with a coupon of 1.684%. The offering, which closed on November 15, saw over 25% of the issuance underwritten by veteran-owned firms. This initiative highlights State Street's ongoing commitment to veterans and diversity in the financial services industry. CFO Eric Aboaf noted that this issuance marked their tightest spread on a senior bond issue to date, demonstrating strong performance and investor interest.

State Street Corporation (NYSE:STT) has announced a strategic partnership with RIMES, enhancing State Street Alpha. This collaboration aims to improve index and benchmark services, addressing complex client needs by integrating access to 3.4 million indices and over 650 data partners.

The partnership is expected to deliver operational efficiencies and faster implementations, ensuring clients have the best benchmark data through State Street Alpha's comprehensive platform.