Boston and London, February 2, 2006 â State Street Corporation (NYSE:STT), the world's leading provider of services to institutional investors, today announced that it recently completed a securities lending auction for approximately $9 billion in international assets for investment funds managed by State Street Global Advisors (SSgA) in France. The funds include four French-domiciled SociÃ©tÃ©s d'Investissement Ã Capital Variable (SICAVs) and two French-domiciled Fonds Communs de Placement (FCPs). State Street recently announced the completion of an auction for the Ohio Public Employees Retirement System.
Exclusive borrowing rights to the securities for a set period of time were awarded to three borrowers using EquiLend AuctionPortSM, which allows lenders to host and conduct blind and open auctions of portfolios on behalf of their customers via EquiLendâs global securities finance platform.
âWe are pleased to have worked with the international borrowing community, SSgA in France, and EquiLend on this successful auction,â said Edward J. OâBrien, executive vice president and head of Securities Finance at State Street. âWe will continue to work with our customers worldwide to explore routes to market that best meet their program parameters and risk-return objectives.â