State Street Corporation has developed a foreign exchange (FX) execution management workflow system for Merrill Lynch Investment Managers (MLIM) in London.
State Street says the workflow system, which is based on its FX Connect trading platform and delivered via its Global Link network, fully integrates with MLIM's current processes.
The application allows MLIM's equities business to aggregate multiple sources of FX requirements, view associated compliance requirements, trade with multiple counterparties and access reporting capabilities, all through a single platform.
Simon Wilson-Taylor, managing director and worldwide head of Global Link for State Street, says the collaboration with MLIM is a next step in the evolution of foreign exchange systems.
"As transparency and compliance requirements become more time consuming, a flexible and full-service solution that spans multiple trading processes significantly increases trading efficiencies," he adds.