BOSTON–(COMMERCIAL THREAD) – State Street Corporation (NYSE: STT) today announced the launch of Direct Access Lending, a securities financing product that provides direct loans of principal between its lender clients and its borrower clients. New managed peer-to-peer product will leverage the size and strength of State Street’s agency lending and enhanced custody programs, and underscores the continued focus on aligning solutions and technology across State Street to help clients achieve their goals.
To facilitate direct lending transactions, State Street will leverage its agency lending and enhanced custody programs to provide both groups of clients with the benefits of each program required to operate in a peer-to-peer transaction while enjoying a economic benefit associated with Direct. Access loans. The product offers a seamless peer-to-peer model, supported by the operational efficiency and expertise of a managed securities lending program.
“Over the past decade, we have worked hard to manage the balance sheet constraints of banks and broker / dealers involved in securities lending,” said Martin Tell, Global Head of Securities Finance. State Street has created a number of innovative solutions to support our clients, expanding our program to add new markets and types of collateral and diversifying the methods for borrowers to deposit non-monetary collateral by pledging securities at place of transfer of ownership. With this past innovation and development, we are uniquely positioned to create a peer-to-peer securities financing platform given the scale and sophistication of the branch lending and enhanced custody business that we have. manage today. ”
State Street’s Global Markets team delivers innovative specialist research, trading, securities financing and portfolio strategies to institutional asset owners and managers. Its goal is to enhance and preserve the value of portfolios for clients through original flow-based research, proprietary portfolio and risk management technologies that optimize trading.
About State Street Corporation
State Street Corporation (NYSE: STT) is a leading global provider of financial services to institutional investors, including investment services, investment management, and investment research and trading. With $ 32,754 billion in assets under custody and administration and $ 2,918 billion * in assets under management as of June 30, 2019, State Street operates worldwide in more than 100 geographic markets and employs approximately 39,000 people. in the world. For more information, visit the State Street website at www.statestreet.com.
* Assets under management include the assets of the SPDR® Gold ETF and the SPDR® Long Dollar Gold Trust ETF (approximately $ 36 billion as of June 30, 2019), for which State Street Global Advisors Funds Distributors, LLC (SSGA FD) serves as marketing agent; SSGA FD and State Street Global Advisors are affiliated.
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