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State Street Announces that Collateral+ is Now Connected to DTCC’s Margin Transit Utility (MTU)
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State Street Corporation (NYSE:STT) has launched its Collateral+ business, now operational with DTCC’s Margin Transit Utility (MTU). This new capability simplifies collateral transfer, enhances operational efficiency, and reduces risk by automating margin processes. Clients can now validate, enrich, and monitor collateral more effectively. With market volatility and final phases of uncleared margin rules, automation is increasingly crucial. State Street manages $3.9 trillion in assets, providing financial services worldwide.
Positive
Launch of Collateral+ business operational with DTCC's Margin Transit Utility enhances efficiency.
Automation reduces operational risk and improves collateral management.
State Street continues to invest in the Collateral Optimization Group amid increasing client demand.
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None.
Firm continues to build out new Capabilities to Bolster its Financing Solutions and Collateral Optimization Group
BOSTON--(BUSINESS WIRE)--
State Street Corporation (NYSE:STT) today announced that its Collateral + business is operational with DTCC’s Margin Transit Utility (MTU), which has been designed for simplifying the transfer of collateral among market participants.
By leveraging MTU, State Street’s Collateral+ business will now be able to more efficiently validate, enrich, settle, report and monitor third party collateral while easily connecting to and sharing information with multiple counterparties on behalf of its clients. MTU service helps reduce operational risk by standardizing and automating the margin process from the point of agreement through to settlement. It also helps eliminate the need of using faxes and emails for processing margin and settlement activity.
“We continue to focus on making key investments in all areas of the firm’s Collateral Optimization Group, and given the recent and continuing market volatility, coupled with the final phases of uncleared margin rules (UMR) for over-the counter (OTC) derivatives, an increasing number of our clients are looking to replace manual processes with new tools that focus on automation such as DTCC’s MTU,” said Staffan Ahlner, global head of Collateral+ for State Street. “We expect this functionally to be essential for our ability to improve operational efficiency and remove unnecessary complexity so that overall risk is mitigated and collateral is ultimately released quicker.”
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 $42.6 trillion in assets under custody and/or administration and $3.9 trillion* in assets under management as of June 30, 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 June 30, 2021 includes approximately $64 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.
What is State Street Corporation's new Collateral+ business about?
State Street's new Collateral+ business, operational with DTCC's MTU, simplifies collateral transfer, improves processing efficiency, and automates margin activities.
How does DTCC's Margin Transit Utility benefit State Street's clients?
DTCC's MTU helps clients reduce operational risks, standardizes margin processes, and enhances the monitoring of third-party collateral.
What assets does State Street manage?
As of June 30, 2021, State Street manages approximately $3.9 trillion in assets.
What market conditions prompted State Street to enhance its Collateral Optimization Group?
The ongoing market volatility and final phases of uncleared margin rules for OTC derivatives have increased the need for automation in collateral management.
How many employees does State Street Corporation have?
State Street Corporation employs approximately 39,000 people globally.
