State Street FX trading platforms to operate as MTFs

State Street Corporation has received approval from the UK’s Financial Conduct Authority (FCA) to operate its FX Connect and Currenex platforms as multi-lateral trading facilities (MTFs) for foreign exchange within the jurisdiction of MiFID II.

First Published by e-Forex News: June, 2017

David Newns
David Newns

State Street Corporation has received approval from the UK’s Financial Conduct Authority (FCA) to operate its FX Connect and Currenex platforms as multi-lateral trading facilities (MTFs) for foreign exchange within the jurisdiction of MiFID II. Both platforms will now operate as MTFs and be upgraded to be compliant with MIFID II upon implementation in January 2018.  David Newns, global head of Currenex and SwapEx, as well as EMEA head of GlobalLink at State Street Global Markets said, “We are delighted to have received these approvals from the FCA. As the European FX market becomes more regulated under MIFID II it means we can continue to support the execution and trading operations of our clients.”