State Street, FactSet to Streamline Data Flows Across Front, Middle, Back Office

State Street (NYSE: STT) and FactSet (NYSE: FDS) have announced a partnership integrating State Street Alpha and the complementary strengths of FactSet “to streamline data flows across the front, middle and back-office through State Street’s Alpha Data Platform.”

The two companies expect the collaboration will “provide common clients with a seamless and highly functional experience from client portals for equity, fixed income and multi-asset strategies all the way through to custody.”

Across the back and middle office, the turnkey integration of State Street portfolio accounting data into FactSet’s performance attribution, risk and reporting capabilities aims to foster a seamless client experience “with portfolio analytics from FactSet also integrated into the State Street Alpha Data Platform.”

In addition, portfolios in FactSet will “update intra-day as trades are executed and allocated in Charles River while proposed trades in FactSet transfer to Charles River for compliance and order management.”

Phil Snow, FactSet’s CEO, said:

“Our clients consistently tell us that they are forging deeper, more strategic relationships with fewer partners and they expect their resulting partners to increasingly collaborate to better support them. This partnership exemplifies that concept, and I am thrilled that we are bringing our teams together to put clients first.”

John Plansky, head of State Street Alpha, remarked:

“Data is at the heart of our Alpha strategy, and we remain committed to providing the leading data platform to the investment management industry to provide clients easy access to aggregated data, analytics and real-time insights. This partnership furthers our Alpha strategy by now enabling Alpha clients to create and analyze portfolios using FactSet.”

As covered, State Street Corporation claims to be one of “the leading providers of financial services to institutional investors including investment servicing, investment management and investment research and trading.”

With $41.7 trillion in assets under custody and/or administration and $4.0 trillion in assets under management as of March 31, 2022, State Street “operates globally in more than 100 geographic markets and employs approximately 39,000 worldwide.”

As noted in the announcement, FactSet claims to “deliver superior content, analytics, and flexible technology to help more than 170,000 users see and seize opportunity sooner.”

They give investment professionals the edge “to outperform with informed insights, workflow solutions across the portfolio lifecycle, and industry-leading support from dedicated specialists.”

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