BOSTON--(BUSINESS WIRE)--May 26, 2005--State Street Corporation
(NYSE: STT), the world's leading provider of services to institutional
investors, today announced its arrangement with Data Explorers
Limited, providers of an independent securities lending performance
measurement service. As part of this arrangement, Data Explorers'
Performance Explorer(TM) product will be offered to State Street's
securities lending customers, providing them with the ability to
evaluate lending returns against a broad universe of industry peers.
Performance Explorer is a secure, Web-based service that allows
customers to better understand their securities lending performance by
comparing individual results against the aggregated data of a broad,
customizable universe of industry peers. All customer data is kept
confidential and anonymous. Each week, Data Explorers collects
aggregated data on more than 64,000 securities lending transactions
for approximately 55,000 securities and more than 4,000 portfolios.
Recent figures compiled by the service indicated total lendable assets
at almost $4.5 trillion and total on-loan balances at more than $1.3
trillion.
"The securities finance industry is becoming larger, more global
and more complex every year and lenders are calling for increasingly
sophisticated tools with which to monitor, assess, and manage
securities lending programs," said Edward J. O'Brien, executive vice
president and head of securities finance for State Street. "State
Street is committed to remaining the global industry leader in
securities finance, and market leaders both anticipate and respond to
customer demand. We are proud to offer this latest enhancement to our
securities lending program and will continue to look for new ways to
provide our customers with best-in-class products and services."
The Performance Explorer service is the latest example of State
Street's commitment to providing its securities lending customers the
most sophisticated means of monitoring program performance.
Performance Explorer complements State Street's existing portfolio of
proprietary securities finance technology solutions, including SL
PerformanceReporter(R) and SL PerformanceAnalyzer(R). State Street was
the first lending agent to launch a risk-adjusted performance
measurement tool when it launched SL PerformanceAnalyzer in 1998. In
addition to benefiting customers, data and analysis from all of these
tools are used internally within Securities Finance's account
management, trading, and risk management departments to assess
performance and plan program strategies.
State Street lends securities in more than 35 markets around the
world via a global network of trading locations -- providing customers
with around-the-clock opportunities, as well as regional expertise and
experience. State Street has provided securities lending services
since 1974, and has developed an industry-leading approach to risk and
return management. Its securities lending program is available to all
institutional investors worldwide, whether their assets are held in
custody at State Street or elsewhere. For more information, visit
www.statestreet.com/securitiesfinance.
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 $9.5 trillion in assets under custody and $1.4 trillion in assets
under management, as of March 31, 2005, State Street operates in 25
countries and more than 100 markets worldwide. For more information,
visit State Street's Web site at www.statestreet.com.
Data Explorers Limited provides a range of specialist services
that meet the needs of the global securities finance industry in areas
such as performance and risk management, assessing market impact,
capital calculation and consolidated reporting. The company has
offices in London and Edinburgh and will shortly be opening an office
in the USA. For more information, visit Data Explorers' web site at
www.dataexplorers.com.
CONTACT: State Street CorporationCarolyn Cichon, 617-664-8672
SOURCE: State Street Corporation