Clear Street Completes UK And European Equities Build With London Stock Exchange Clearing Membership
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The terms were not disclosed although the transaction is set to close before the end of 2023 subject to final agreement.
March 23, 2023 - State Street announced that it has agreed to acquire CF Global Trading, an outsourced trading services supplier in order to expand their current outsourced trading offer.
CF Global Trading works across multiple asset classes and to support asset managers in extending their global trading infrastructure.
State Street currently provides outsourced trading services 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.
There are currently plans to open execution desks in Hong Kong, London, New York and Lisbon prior to the acquisition closure. The new combined State Street footprint for outsourced trading will include trading desks in Boston, New York, Toronto, London, Lisbon, Hong Kong and Sydney following the deal.
Dan Morgan, global head of Portfolio Solutions at State Street, said, "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."
