27 July 2017
Reporter: Mark Dugdale

State Street receives securities finance revenue boost

State Street earned securities finance revenue of $179 million in Q2 thanks to a boost at the bank in enhanced custody, as its assets under custody and administration exceeded $31 trillion for the first time.

Securities finance revenue was up significantly on Q1 2017’s $133 million and Q2 2016’s $156 million, reflecting higher revenue from, and growth in, enhanced custody.

Assets under custody and administration at State Street reached $31.04 trillion in Q2 2017, surpassing Q1 2017’s $29.83 trillion and Q2 2016’s $27.79 trillion.

Joseph Hooley, chairman and CEO of State Street, said: “We are very pleased with our second-quarter results, delivering a record level of quarterly earnings per share that reflect continued strength in global equity markets as well as momentum in our asset servicing and asset management businesses.”

“We also for the first time exceeded $31 trillion in assets under custody and administration this quarter fuelled by a combination of new business activity and higher equity markets.”

More Industry news
The latest news from Securities Lending Times
Join Our Newsletter

Sign up today and never
miss the latest news or an issue again

Subscribe now
US Volcker Rule not fit for purpose, says SIFMA
22 September 2017 | New York | Reporter: Drew Nicol
The US Volcker Rule is too broad, excessively complex, and uniquely prescriptive, according to the Securities Industry and Financial Markets Association
Pirum joins South African securities lending association
21 September 2017 | Johannesburg | Reporter: Drew Nicol
Pirum Systems has joined the South African Securities Lending Association
EquiLend and Trax partner for SFTR solution
20 September 2017 | London | Reporter: Drew Nicol
Trax and EquiLend are joining forces to tackle SFTR reporting requirement with a a full front-to-back solution for mutual clients
ISLA confirms BoE conference keynotes
19 September 2017 | London | Reporter: Jenna Lomax
Sarah John, head of sterling markets division, and Jon Pyzer, senior manager for the sterling markets division will speak to attendees on 12 October
UCITS funds enjoy assets boom in Q2
18 September 2017 | Brussels | Reporter: Jenna Lomax
The latest growth figures represent the highest level of net sales recorded since Q1 2015
ESMA releases responses from CCP’s conflict of interest report
15 September 2017 | Paris | Reporter: Jenna Lomax
As part of the consultation, ESMA proposed giving further counsel to CCP’s management to “ensure common, uniform and consistent application” of EMIR guidelines
Preqin: Hedge funds chalk up 10th growth month
15 September 2017 | London | Reporter: Jenna Lomax
Hedge funds generated gains of 0.97 percent in August 2017, extending their win streak to 10 consecutive months of positive returns