State Street Corporation to Provide Custody Services to the Digital Securities Depository Corporation
October 14, 2021 at 08:00 am EDT
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State Street Corporation announced that it will provide custody services to the Digital Securities Depository Corporation (DSDC). DSDC operates a novel cross-border securities settlement infrastructure with third-party regulated financial institutions to more efficiently create, issue and service digital depositary receipts (DDRs) in the US public market. The securities underlying the DDRs will include the non-US listed equity securities DSDC holds in custody with State Street. State Street will provide safekeeping, transaction settlement, dividend collection, and FX payment services to DSDC with respect to its holdings of non-US listed equity securities. At launch, the DSDC network aims to deliver UK’s FTSE 350 constituent equities more efficiently into the hands of US investors. DSDC is a newly created US company that provides the structure for governance and support of the DSDC infrastructure network which is enabled by KALYPTechnologies, a UK-based technology provider for distributed market infrastructure to the world’s securities industry.
State Street Corporation is a financial holding company organized around 2 areas of activity:
- investment services (83.1% of net sales): services intended mainly to mutual funds, collective investment funds, corporate and public retirement plans, insurance companies and foundations. The group provides services including custody, daily pricing, record keeping and administration, shareholder services, foreign exchange, brokerage and other trading services, securities finance, loan and lease financing, investment manager and hedge fund manager operations outsourcing, performance, risk and compliance analytics;
- investment management (16.9%). State Street Corporation offers, primarily to institutional investors, investment management and investment research services for managing financial assets, including passive and active United States and non-United States equity and fixed-income.
The United States accounts for 55.1% of net sales.
STATE STREET CORPORATION 
