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State Street Takes Top Honors in American Financial Technology Awards

^{Published on 2009-12-23 09:10:13 - Market Wire}
 

BOSTON--([ BUSINESS WIRE ])--State Street Corporation (NYSE: STT), one of the world's leading providers of financial services to institutional investors to institutional investors, announced today that it took top honors in two categories, Best Green Information Technology (IT) Initiative and Best Cross-Asset Trading Initiative at the 2009 American Financial Technology Awards (AFTA) held earlier this month in New York. The fifth annual AFTA event, hosted by Waters magazine, Dealing with Technology and Buy-Side Technology, recognized financial companies for industry excellence and innovation in the deployment and management of financial information technology.

"We are pleased that our green IT and eHorizon initiatives were recognized at the AFTA event"

"We are pleased that our green IT and eHorizon initiatives were recognized at the AFTA event," said Chris Perretta, executive vice president and chief information officer at State Street. "State Street's approach to IT focuses on developing creative, efficient and environmentally sound products and infrastructure to help our customers navigate an increasingly complex marketplace."

In the Best Green IT category, State Street was recognized for a range of green initiatives such as its Zero Footprint, Maximum Impact^TM strategy, server and storage virtualization and its environmental management system. These initiatives help to reduce the environmental footprint of IT infrastructure worldwide and have achieved a number of sustainability gains, including annual energy savings exceeding $2 million and reduced CO₂ emissions equivalent to taking 6,000 cars off the road. State Street‘s environmental management system tracks and monitors the firm's environmental performance from an operations perspective. Earlier this year, State Street was named one of the top ten green companies in Newsweek magazine's inaugural "Green Rankings 2009," a ranking of America's 500 largest publicly traded companies based on sustainability.

State Street also captured the cross-asset trading category for its eHorizon global accounting solution which offers customers a seamless, automated and comprehensive accounting process on a single global platform. The eHorizon accounting system provides an integrated approach to accounting functions across a wide array of asset types held in complex portfolio structures.

About State Street

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 $17.9 trillion in assets under custody and administration and $1.7 trillion in assets under management at September 30, 2009, State Street operates in 27 countries and more than 100 geographic markets worldwide. For more information, visit State Street's web site at [ www.statestreet.com ].