Business & Finance
Business and Finance
Business and Finance
Mon, March 7, 2011 
BOSTON--([ BUSINESS WIRE ])--State Street Corporation (NYSE: STT), one of the world's leading providers of financial services to institutional investors, announced today the launch of a new Collateral Tracking service that helps asset managers and owners accurately assess and manage counterparty risk. Clients can now receive up-to-date reporting on the location and status of all collateral movements regardless of where the assets are held.
"The Collateral Tracking service provides clients with settlement status updates and event monitoring information to increase transparency and mitigate counterparty risk exposure."
The Collateral Tracking service expands the traditional core custody function of acting on direction from the asset manager to move collateral, including cash or securities, in and out of an account. The enhanced service automates a previously manual process, which required asset owners to contact each broker or investment manager individually to determine the outstanding collateral at any point in time. With the new service, clients can send their collateral instructions to State Streeta™s proprietary collateral tracking hub, which automatically initiates the process of tracking the status and location of all outstanding collateral. Additionally, the servicea™s fully customizable reporting allows clients to schedule reports to run systematically or upon request, using any combination of date range, advisor, client, counterparty, fund, or product type.
aAt State Street, we are constantly developing new products to help monitor and manage risk for our clients,a said Patrick Centanni, executive vice president and head of Global Product Management at State Street. aThe Collateral Tracking service provides clients with settlement status updates and event monitoring information to increase transparency and mitigate counterparty risk exposure.a
aState Streeta™s new collateral tracking capabilities are a core component of our derivatives strategy, which is designed to address the unique challenges our clients face in the derivatives market today,a said Jeff Conway, executive vice president and head of Investment Manager Operations Servicing at State Street. aState Streeta™s derivative servicing suite now includes end-to-end OTC and exchange traded derivatives processing, collateral management, and independent valuations.a
About State Street
State Street Corporation (NYSE: STT) is one of the world's leading providers of financial services to institutional investors, including investment management, investment research and trading and investment servicing. With $21.5 trillion in assets under custody and administration and $2 trillion in assets under management at December 31, 2010, State Street operates in 26 countries and more than 100 geographic markets worldwide. For more information, visit State Streeta™s website at [ www.statestreet.com ].
1 Includes assets of SPDR Gold Shares for which SSgA does not act as investment manager, but is the distribution agent.
