State Street Corporation (NYSE: STT) today announced that its data management solution, DataGX, has been voted “Best Data Provider” by the Hedge Fund Management 2017 US Technology Awards. The awards, announced in February at a ceremony in New York City, recognize technology providers across 31 different categories that serve the hedge fund sector and have demonstrated innovative development and excellent client service in the last 12 months. A panel of editors and independent industry judges selected the winners.
“Alternative asset managers encounter an overwhelming amount of data in today’s investment environment,” said Subbiah Subramanian, senior vice president and head of DataGX Client Delivery for North America. “Many are challenged with inefficiencies due to the multiple platforms and systems that manage these large data sets. Our DataGX platform provides our clients a holistic view of their investment portfolios, taking these data sets across disparate systems and turning them into valuable insights.”
DataGX, which sits within State Street’s Global Exchange business, helps clients manage and enrich multi-asset class data while providing a complete view of their business for portfolio management, analytics and reporting. The data-as-a-service platform is a scalable, cloud-based solution that allows clients to more completely measure and evaluate risk, address regulatory concerns and make more informed, real-time trading decisions.
“As new regulatory mandates around data generation and reporting are introduced, data management will grow even more complex,” continued Subramanian. “At State Street, we strive to collaborate with our clients throughout these changes, supporting their focus on improved performance and insights.”
State Street Corporation (NYSE: STT) is one of the world's leading providers of financial services to institutional investors, including investment servicing, investment management and investment research and trading. With $29 trillion in assets under custody and administration and $2 trillion* in assets under management as of December 31, 2016, State Street operates in more than 100 geographic markets worldwide, including the US, Canada, Europe, the Middle East and Asia.
* Assets under management were $2.47 trillion as of December 31, 2016. AUM reflects approximately $30.62 billion (as of December 31, 2016) with respect to which State Street Global Markets, LLC (SSGM) serves as marketing agent; SSGM and State Street Global Advisors are affiliated.