State Street announces new capability to support fund order services in Mexico
State Street Corporation (NYSE:STT) announced today that it has launched an integrated fund trading solution along with its custody offering for clients in Mexico. The secure online platform will allow for access to a broad range of investment funds in collaboration with Clearstream (Vestima®) providing fund order services through a single-entry point.
The fund order services offering will support connectivity with a wide range of transfer agents to meet clients’ unique requirements, including the ability to manage both segregated and omnibus accounts. It will also allow State Street Bank to secure expansive product and jurisdictional coverage across Latin America (LATAM).
“We are very pleased to announce this new capability for our clients,” said Marcia Rothschild, head of Latin America for State Street. “This trading solution is a critical step towards further expanding our products and capabilities in Mexico.”
Additional product features include a robust infrastructure underpinned by SWIFT, real-time monitoring of order status, a dedicated client service team and registration services and account opening support by Vestima®.
State Street’s first live client in the region is Afore Profuturo.
“We are delighted to be the first client onboarded to State Street’s new trading platform,” said Antonio Sibaja from Profuturo Afore. “The new function will allow us to work more efficiently to give our clients a better pension and a better future.”