State Street, the second-oldest continually operating United States bank, has expanded its presence into the outsourced trading arena with its latest definitive agreement for the acquisition of CF Global Trading.

State Street Signs to Acquire CF Global Trading

CF Global Trading, with execution Execution Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Read this Term desks in New York, London, and Hong Kong, provides global execution and outsourced trading solutions to asset managers globally. The company supports a range of asset classes, including equity, listed derivatives, and fixed income. The company is now establishing a Lisbon presence.

“Market volatility Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, or stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Trad In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, or stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Trad Read this Term, margin compression, increased regulation, and cost pressures have presented multiple challenges for investment managers. Survival and growth depend on the ability to streamline processes, reduce costs and integrate infrastructure to allow more focus on core competencies of investment selection and alpha generation,” said State Street’s Global Head of Portfolio, Dan Morgan.

“With the addition of CF Global Trading, we add scale and significant expertise to our outsourced trading services that will complement and help further bolster our current offerings.”

The two companies expect to close the deal by the end of 2023, which is now pending customary closing conditions. However, neither disclosed the associated financial terms.

A Strategic Acquisition Deal

State Street has been offering clients outsourced trading solutions since 2010. Currently, it provides these services in the Americas, APAC, and the Middle East. With this acquisition, the banking giant can expand its services to the United Kingdom and European Union.

The acquisition will allow State Street to offer a complete global trading solution as part of the firm’s State Street Alpha front-to-back platform. Additionally, it will enhance services by adding multi-asset class execution, modular-based solutions, around-the-clock trading capabilities, reduced operational risk, and potential cost savings.

“Our team has worked with our clients for 20+ years to develop a global, multi-asset class execution platform with a focus on accessing liquidity, improving workflows and reducing costs. We look forward to joining the State Street team and continuing to build on our client platform and experience with the scale of one of the world’s largest institutional financial services providers,” said Scott Chace, Co-Founder and CEO of CF Global Trading.