State Street Corporation (NYSE: STT) today announced the launch of the firm’s new peer-to-peer financing platform, Venturi, specifically designed to connect buy-side firms with new sources of liquidity in the global repo space. Venturi, built through a partnership with FinOptSys, a cutting edge FinTech focused on the securities financing market, supports trade negotiations and enhances trade settlement and collateral management, allowing traders to better manage and diversify their counterparty exposure.
“As a result of elevated market volatility and the changing liquidity and rate environment, buy-side firms are increasingly seeking new and diversified sources of financing,” said Gino Timperio, global head of Financing Solutions at State Street. “We are excited to further expand our product suite with the launch of Venturi to help foster the growth of and scale the peer-to-peer marketplace. Akin to our 2005 launch of FICC’s Sponsored Repo Service, which has also provided our clients with critically needed liquidity solutions, we believe Venturi will empower our clients to discover new liquidity pools and make better, data-driven investment decisions. The launch of this platform – designed in large part through extensive development and feedback from our clients – is certainly a very noteworthy milestone for our business and the evolution of our peer-to-peer initiatives.”
Venturi was built to provide clients:
Increased Efficiency: Users negotiate economic terms of peer repo transactions on Venturi. A program master repo agreement streamlines the documentation process and supports ready scalability. Users may engage with any or all counterparties active on the platform.
Improved Flexibility: Venturi supports a flexible suite of eligible collateral and margin requirements.
Seamless Confirmation of State Street’s Guaranty to Repo Buyers: Venturi allows buy-side participants to seamlessly submit and confirm the repo transaction terms satisfy the criteria necessary for State Street to guarantee the repurchase price payment obligations of the repo seller to the repo buyer following a repo seller default. State Street’s short-term credit rating: A+/AA1.
Transparency of trade and margin call settlement: With links to State Street’s Collateral+ Triparty Solution for Peer-to-Peer Repo, Venturi displays confirmed trade matches, collateral valuation and margin calls, and collateral movements between counterparties.
In helping to centralize liquidity pools and enhance transparency, Venturi seeks to open up for the buy-side new trading opportunities, lower their transaction costs and improve their returns.
For more information on State Street’s peer-to-peer repo offerings, please click here.
About State Street Corporation
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 $35.7 trillion in assets under custody and/or administration and $3.3 trillion* in assets under management as of September 30, 2022, State Street operates globally in more than 100 geographic markets and employs approximately 41,000 worldwide. For more information, visit State Street's website at www.statestreet.com.
*Assets under management as of September 30, 2022 includes approximately $55 billion of assets with respect to SPDR® products for which State Street Global Advisors Funds Distributors, LLC (SSGA FD) acts solely as the marketing agent. SSGA FD and State Street Global Advisors are affiliated.
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