BOSTON--(BUSINESS WIRE)--Jan. 19, 2006--State Street Corporation
(NYSE:STT), the world's leading provider of services to institutional
investors, today announced that it recently completed a securities
lending auction for approximately $2.6 billion in international assets
for the Ohio Public Employees Retirement System (OPERS).
Exclusive borrowing rights to the securities for a set period of
time were auctioned using EquiLend AuctionPort(SM), which allows
lenders to host and conduct blind and open auctions of portfolios on
behalf of their customers via EquiLend's global securities finance
platform.
"We are pleased to have worked with State Street to bring this
lender and the international borrower community together via a
successful auction," said Brian P. Lamb, chief executive officer of
EquiLend.
"Our goal is to maximize the value of our portfolios while
retaining our conservative approach to risk," said Jerry May,
securities lending officer for OPERS. "Auctioning select asset types
provides us with an additional route to market within our overall
securities lending program."
"We work with our customers to establish innovative securities
lending programs tailored to their specific investment objectives and
risk parameters," said Edward J. O'Brien, executive vice president and
head of securities finance at State Street. "Offering our customers
the option of an auction using the EquiLend platform can be an
excellent alternative when specific market and asset criteria are
met."
State Street was one of a group of 10 global financial
institutions that joined together in 2000 to develop a standardized
and centralized global platform for trading and operations services
and to optimize efficiency in the securities finance industry. As a
result of this initiative, EquiLend Holdings LLC was formed in 2001
and the platform went live in 2002. For more information about
EquiLend and EquiLend's services, please visit www.equilend.com.
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
services. With $10.1 trillion in assets under custody and $1.4
trillion in assets under management at December 31, 2005, State Street
operates in 26 countries and more than 100 geographic markets
worldwide. For more information, visit State Street's web site at
www.statestreet.com.
CONTACT: State Street Corporation
Carolyn Cichon, 617-664-8672
or
Brian Willinsky, 617-664-8576
SOURCE: State Street Corporation