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State Street collaborates with CLS on post-trade management platform

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State Street Corporation has announced a collaboration with CLS, an FX market infrastructure group, to provide asset managers with a consolidated view of CLSSettlement information across their accounts for the first time.

The collaboration will combine TradeNeXusSM, State Street’s electronic post-trade processing service, with CLS’s post-trade monitoring and reporting tool, CLSTradeMonitorSM, allowing asset managers to efficiently manage their trades eligible for CLSSettlement, along with all trades across their accounts with different custodians. The unique platform will also help asset managers to meet deadlines and alter settlement instructions with ease.

“Asset managers want further visibility into their transaction lifecycles to reduce risk and increase operational efficiency,” says Kate Lowe, head of GlobalLink post-trade services at State Street Global Markets. “By collaborating with CLS, who has a unique settlement service in the FX market, we continue to work on innovative ways to improve operational processes that will provide our clients with enhanced functionality to manage their post-trade workflows. Together, we will provide a single-window to view critical settlement data as a seamless extension to the existing capabilities to drive efficiency and automation for our valued client base.”

“Asset managers are increasingly focused on improving post-trade efficiency in an evolving and fragmented FX market, driven in part by increased regulatory requirements for transactional reporting,” says Alan Marquard, chief business development officer, CLS. “We are delighted to be working with State Street to deliver a solution that enhances post-trade transparency, mitigates risk and increases efficiency by providing asset managers with an integrated view of their settlement activity.”

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