State Street Completes Acquisition of CF Global Trading
Summary
BOSTON--(BUSINESS WIRE)--State Street Corporation (NYSE: STT) announced today that it has completed its acquisition of CF Global Trading, a global firm specializing in outsourced trading on an agency basis for a variety of asset classes including equities, listed derivatives and fixed income. “Outsourced trading enables organizations to access new asset classes, prepare for regulatory shifts and navigate global markets while allowing them to focus on their strategic outcomes on behalf of their clients,” said Dan Morgan, global head of Portfolio Solutions at State Street. State Street currently provides outsourced trading to clients in the Americas, APAC and Middle East, and CF Global Trading will extend the ability for the firm to provide these services to clients in the UK and the EU. Joining State Street allows our team to continue to build on our client platform and award-winning outsourced trading experience with the scale that comes with being part of one of the world’s largest institutional financial services providers,” said Scott Chace, co-founder and CEO of CF Global Trading. * Assets under management as of December 31, 2023 includes approximately $64 billion of assets with respect to SPDR® products for which State Street Global Advisors Funds Distributors, LLC (SSGA FD) acts solely as the marketing agent.