The State Street Corporation, a world specialist leader in investment financial services, has announced the launch of a new advanced trading platform, Money Market Connect (MM Connect). State Street describes MM Connect as a 'trading environment' that enhances the ability of corporate treasurers and investment managers to manage cash deposits in multiple currencies by comparing rates and executing transactions online in real-time.
MM Connect is now fully operational on Global Link, the central network for State Street clients who need to access a broad range of advanced e-finance applications and services. Global Link has full connectivity to the chosen trading destinations of global investment managers including multiple exchanges, brokers, bank counterparties and other online trading venues.
Currently employed by 269 asset management companies, including 15 of the world's top 20 largest firms, the Global Link network provides industry-leading world market research, analytics and secure, real-time trade execution services developed across multiple asset classes, including equities, foreign-exchange, fixed income and futures.
In a statement released by Street State, senior vice president and worldwide head of Global Link, Simon Wilson-Taylor, said: 'MM Connect enables investors to trade directly with major banks around the world to obtain rates and execute transactions in a secure, real-time environment. By connecting investors with banks directly through Global Link's network, we further our commitment to providing clients with the liquidity and choice, combined with the efficiencies and security of online trading, that is critical to global investment strategies today. By offering global money markets trading services alongside other asset classes, Global Link enables investors to more effectively integrate cash investments into their overall strategy.'
MM Connect currently provides direct electronic trading with multiple counterparties of the client's choice, and there are plans afoot to include other short-term instruments, such as commercial paper and repurchase agreements.
Stanley W Shelton, executive vice president and head of State Street Global Markets, explains: 'MM Connect is the most recent addition to Global Link's broad range of innovative products that have been transforming the way market research, analytics and trading tools are delivered to institutional investors since Global Link's inception in 1996. It is the one of many additional ground-breaking services we will introduce on Global Link over the next few weeks to further enhance our clients' ability to maximize performance across multiple asset classes.'
He added: 'Our goal is to continue building on our five-year lead in the institutional e-finance space, which has made Global Link the preferred e-finance network among sophisticated investors'
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