State Street Unifies FX Platforms

State Street has unveiled GlobalLink FX, an initiative that brings together its FX Connect, Currenex and TradeNexus platforms.

Bringing the three business together will result in significant benefits for clients, State Street says, including FX Connect Market Monitor, an improved price discovery tool for FX Connect buy-side clients. This enhancement will utilise Currenex’ streaming price feeds and market data in order to provide clients with a curated view of their liquidity providers, driving better decision making and execution outcomes.

“All three of these platforms have been core components of our broad multi-asset class solutions we offer to clients, and I am thrilled that our FX businesses will be aligning so we can further leverage the best of the platforms and deliver next-gen FX execution solutions,” says Martine Bond, head of global markets EMEA at State Street.

In an effort to streamline the GlobalLink FX offering, State Street also says that the Currenex MTF platform will be closing in April 2022 in favour of operating a single GlobalLink MTF for regulated activity.

Beverley Doherty, co-head of FX Connect, Currenex and TradeNeXus, says, “GlobalLink FX will enable State Street to capitalise on the collective strengths of our award-winning platforms in order to provide the firm’s clients with an integrated execution and workflow solution, catering to the evolving needs of the FX industry.”