State Street to acquire CF Global Trading for undisclosed sum
Financial services firm State Street has agreed to acquire CF Global Trading, a company specialising in outsourced trading for a range of asset classes.
State Street to acquire CF Global Trading
The terms of the deal remain undisclosed, with the acquisition expected to be completed by the end of this year subject to customary closing conditions.
Founded in 2000 and based in New York, USA, CF Global Trading works on an agency basis to provide asset managers with supplementary and fully outsourced trading solutions. It claims its infrastructure improves access to liquidity, streamlines workflows and reduces trading and infrastructure costs.
State Street says the deal will help expand its current outsourced trading offering and will enable its clients to offer outsourced trading services to new clients and markets.
Additionally, State Street’s clients will also benefit from multi-asset class execution across equities, fixed income, exchange-traded derivatives and foreign exchange; 24-hour global trading capabilities; and reduced operational risk.
Dan Morgan, global head of portfolio solutions at State Street, says: “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.”
