State Street Completes Acquisition of CF Global Trading

Rhea-AI Summary

State Street Corporation (NYSE: STT) has completed the acquisition of CF Global Trading, a global firm specializing in outsourced trading. The deal extends the ability for State Street to provide outsourced trading services to clients in the UK and the EU. State Street has provided clients with outsourced trading solutions since 2010, and the addition of CF Global Trading strengthens its current outsourced trading services. The new combined State Street footprint for outsourced trading will include trading desks in Boston, New York, Toronto, London, Lisbon, Hong Kong, and Sydney. The closing of the deal will allow State Street to offer a complete global trading solution as part of the firm’s State Street Alpha® front-to-back platform.

Insights

Financial Analyst

The acquisition of CF Global Trading by State Street Corporation represents a strategic move to enhance the company's outsourced trading services. From a financial perspective, this acquisition could potentially lead to increased revenue streams for State Street, given the expansion of their service offerings into new geographical markets such as the UK and the EU. The lack of disclosed financial terms makes it challenging to assess the immediate financial impact, but investors should monitor the integration process for signs of synergy realization which can be a positive indicator for future earnings.

Market Research Analyst

State Street's acquisition is a clear indicator of the growing trend towards outsourced trading services within the financial industry. By integrating CF Global Trading's expertise and geographical footprint, State Street is likely to strengthen its competitive position in the market. The extension of services to UK and EU clients may also be a response to increased demand for multi-asset class trading solutions in these regions, which could lead to a larger market share and enhanced client retention for State Street.

Legal Expert

From a legal standpoint, the acquisition of CF Global Trading by State Street Corporation likely involved a thorough due diligence process, especially considering the regulatory complexities associated with financial services in multiple jurisdictions. The ability to navigate these legal landscapes and prepare for regulatory shifts, as mentioned by Dan Morgan, will be crucial for State Street to ensure compliance and mitigate risk while expanding their outsourced trading services in the UK and the EU.

• Deal extends the ability for State Street to provide outsourced trading services to clients in the UK and the EU

BOSTON--(BUSINESS WIRE)-- State Street Corporation (NYSE: STT) announced today that it has completed its acquisition of CF Global Trading, a global firm specializing in outsourced trading on an agency basis for a variety of asset classes including equities, listed derivatives and fixed income. Financial terms are not being disclosed.

“Outsourced trading enables organizations to access new asset classes, prepare for regulatory shifts and navigate global markets while allowing them to focus on their strategic outcomes on behalf of their clients,” said Dan Morgan, global head of Portfolio Solutions at State Street. “The addition of CF Global Trading brings industry-leading expertise that strengthens our current outsourced trading services. We welcome the CF Global team to State Street and look forward to the team complementing and enhancing our outsourced trading solutions globally.”

State Street has provided clients with outsourced trading solutions since 2010, and has invested in technology and people to provide a leading agency, multi asset class outsourced trading solution. State Street currently provides outsourced trading to clients in the Americas, APAC and Middle East, and CF Global Trading will extend the ability for the firm to provide these services to clients in the UK and the EU. The new combined State Street footprint for outsourced trading will include trading desks in Boston, New York, Toronto, London, Lisbon, Hong Kong and Sydney. Additionally, the closing of the deal will allow State Street to offer a complete global trading solution as part of the firm’s State Street Alpha^® front-to back platform.

“We are very pleased to announce the close of this acquisition. Joining State Street allows our team to continue to build on our client platform and award-winning outsourced trading experience with the scale that comes with being part of one of the world’s largest institutional financial services providers,” said Scott Chace, co-founder and CEO of CF Global Trading.

Please click here to learn more about State Street's Outsourced Trading capabilities.

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 $41.8 trillion in assets under custody and/or administration and $4.1 trillion* in assets under management as of December 31, 2023, State Street operates globally in more than 100 geographic markets and employs approximately 46,000 worldwide. For more information, visit State Street's website at www.statestreet.com.

* Assets under management as of December 31, 2023 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.

© 2024 State Street Corporation
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View source version on businesswire.com: https://www.businesswire.com/news/home/20240201314329/en/

Media Contact:

Ed Patterson

+1 (404) 213-3106

epatterson@statestreet.com

Source: State Street Corporation

FAQ

What is the ticker symbol for State Street Corporation?

The ticker symbol for State Street Corporation is STT.

What is the main focus of the PR?

The main focus of the PR is the completion of the acquisition of CF Global Trading by State Street Corporation.

What are the regions where State Street currently provides outsourced trading solutions?

State Street currently provides outsourced trading to clients in the Americas, APAC, and Middle East.

What will be the new regions where State Street will provide outsourced trading services after the acquisition?

The acquisition will extend the ability for State Street to provide outsourced trading services to clients in the UK and the EU.

What is the significance of the acquisition for State Street?

The addition of CF Global Trading strengthens State Street's current outsourced trading services and allows the firm to offer a complete global trading solution.

What is the State Street Alpha® front-to-back platform?

It is the firm’s front-to-back platform that will now include a complete global trading solution following the closing of the acquisition of CF Global Trading.