State Street Global Markets has purchased SSISearch, the operator of a database of standard cross-border settlement instructions which it has hosted on its Global Link network for a couple of years.
The purchase, for an undisclosed sum, means State Street stands behind The Settlement Directory, a compendium of international payment processing and settlement instructions developed with assistance from the major settlement bank members of CLS (Continuous Linked Settlement). The worldwide head of Global Link, Simon Wilson-Taylor, said the acquisition was a step in State Street’s efforts to streamline communication for institutional investors, from pre-trade through post-trade. “;In 2007, more than $3 trillion in foreign exchange was transacted daily globally with no single, cost-effective means for particpants to centralise settlement details other than through individual duplicative databases,”; he said.
Future Fund chief investment officer Ben Samild said that FY24 has been a great year for alpha creation, thanks to strong returns in equities and, unusually, across multiple hedge fund strategies all at the same time. He reflected the past few years have been “a difficult time to be an asset owner and to generate positive returns for risk assets” but the Future Fund is tracking well of its long-term mandate.
Simon Hoyle and Darcy SongSeptember 4, 2024
