State Street has launched an integrated fund trading solution along with its custody offering for clients in Mexico.
The initiative will allow State Street to secure increased product and jurisdictional coverage across South America.
The secure online platform will allow for access to a range of investment funds in collaboration with Clearstream, via its Vestima platform, providing fund order services through a single-entry point.
The expansion in Mexico will also support connectivity with a wide range of transfer agents to meet clients’ unique requirements.
Additional product features include a robust infrastructure underpinned by SWIFT, real-time monitoring of order status, a client service team, registration services and account opening support by Vestima.
State Street’s first live client in the region is Afore Profuturo, a retirement savings company.
Marcia Rothschild, head of Latin America for State Street, says: “We are very pleased to announce this new capability for our clients. This trading solution is a critical step towards further expanding our products and capabilities in Mexico.”
Antonio Sibaja, senior portfolio manager at Afore Profuturo, says: “We are delighted to be the first client onboarded to State Street’s new trading platform. The new function will allow us to work more efficiently to give our clients a better pension and a better future.”
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