TOKYO & BOSTON--(BUSINESS WIRE)--June 24, 2004--State Street
Global Markets, the investment research and trading arm of State
Street Corporation (NYSE: STT), the world's leading provider of
services to institutional investors, announced today that The
Mitsubishi Trust and Banking Corporation (Mitsubishi Trust) will
provide liquidity to FX Connect(R), State Street's multi-bank
electronic foreign exchange trading system available via State
Street's Global Link(R) network.
Simon Wilson-Taylor, head of Global Link at State Street said, "We
are delighted to welcome Mitsubishi Trust as a liquidity provider to
FX Connect. Mitsubishi Trust's commitment to servicing their
institutional investor clients' online foreign exchange needs through
our FX Connect platform is evidence of our continuing success in the
Japanese marketplace."
With volumes now reaching 8,500 completed trades per day, of which
94 per cent are spot and outright forward transactions, FX Connect is
a leader in the multi-bank foreign exchange trading industry with the
dominant share of the professional investor market. Clients are now
trading with more than 45 banks in 130 global dealing room locations.
GTSS, Global Link's post-trade foreign exchange confirmation matching
and settlement product, is already matching more than 9,500 trades per
week, and has gained rapid acceptance as the settlements centre of
choice.
FX Connect and GTSS are offered via State Street Global Market's
proprietary Global Link network, which delivers unique fact-based
research, in Japanese and English language versions, decision support
tools and trading technology for six asset classes to clients in 24
countries worldwide. Global Finance Magazine recently named FX Connect
the best online foreign exchange trading system for the fourth
consecutive year. Global Link is currently used by 19 of the world's
20 largest asset management companies. More information about Global
Link can be found at www.globallink.com.
About The Mitsubishi Trust and Banking Corporation
Established March 1927. One of the core companies in Mitsubishi
Tokyo Financial Group and one of the leading trust banks in Japan.
Ranked No. 1 in the industry in terms of corporate pension assets
under management and number of testamentary trust including the
custody and execution of wills. Extremely strong financial position.
Business encompasses: "Trust Banking Services" that combine unique
trust services (personal accounts, pensions, real estate trusts etc.)
with corporate financial intermediation services, "Securities Agency
Services" that provide top-class backup-up for listed and listing
companies, "Trust Asset Investment and Management Services" for
approximately 40 trillion Yen in entrusted assets (top in the
industry), "Real Estate Services" that offer new business and
financial strategies for real estate assets, and "International Market
Services" that provide support for global business focusing on the
three centers of North America, Europe and Asia. In "International
Market Services," the bank has five branch offices, three liaison
offices, and local subsidiaries in leading countries.
For more information, visit Mitsubishi Trust's web site at:
http://www.mitsubishi-trust.co.jp/.
About State Street:
State Street Corporation (NYSE: STT) is the world's leading
specialist in providing institutional investors with investment
servicing, investment management and investment research and trading.
With $9.4 trillion in assets under custody and $1.2 trillion in assets
under management, State Street operates in 24 countries and more than
100 markets worldwide. For more information, visit State Street's Web
site at www.statestreet.com.
About State Street Global Markets:
State Street Global Markets provides investment research, trading
services, and technology-driven tools that seamlessly connect
investment managers with buyers and sellers in global financial
markets. Portfolio allocation, decision-making and risk management
tools, along with proprietary trading platforms, have made State
Street Global Markets the world leader in electronic trading and asset
allocation. Its Global Link electronic network delivers research,
analytics and trading tools across multiple asset classes, and is used
by the world's top investment managers.
CONTACT: State Street CorporationHannah Grove, 617-664-3377
or
Carolyn Cichon, 617-664-8672
SOURCE: State Street Corporation