State Street Confirms CF Global Acquisition

State Street has confirmed it has entered into a definitive agreement to acquire outsourced trading firm, CF Global according to a story in The Trade news. The deal is expected to be completed by the end of 2023, subject to closing conditions. Financial terms were not disclosed. Once completed, the deal will give State Street access to CF Global’s extensive relationships in the space as a segregated outsourced trading entity. State Street currently offers outsourced trading in the Americas, APAC and Middle East and CF Global will extend this remit to the UK and Europe. The deal will also allow it to offer a complete global trading solution as part of its front-to-back State Street Alpha platform. Clients can expect greater capabilities in multi-asset class execution, modular-based solutions, and 24-hour global trading following the completion of the deal, State Street said. After closing, the new combined State Street footprint for outsourced trading will include trading desks in Boston, New York, Toronto, London, Lisbon, Hong Kong and Sydney.