[ O U T S O U R C E D T R A D I N G S U R V E Y ]
State Street
State Street |
2025 |
2024 |
2023 |
Global |
Difference to Global |
Coverage |
6.24 |
6.23 |
6.78 |
6.25 |
-0.02 |
Execution |
6.00 |
6.00 |
6.48 |
6.20 |
-0.20 |
Operations and Post-Trade |
6.26 |
6.81 |
6.78 |
6.19 |
0.07 |
Relationship Management |
6.24 |
6.47 |
6.63 |
6.15 |
0.09 |
Trade Decision Support |
6.17 |
6.00 |
5.89 |
6.00 |
0.17 |
IPO Process and Allocations |
5.23 |
5.40 |
- |
5.25 |
-0.02 |
Onboarding |
6.21 |
6.42 |
5.52 |
5.98 |
0.23 |
Client Services |
6.00 |
- |
- |
6.15 |
-0.15 |
Cost vs Value |
5.81 |
5.79 |
6.19 |
5.99 |
-0.18 |
Average |
6.02 |
6.14 |
6.32 |
6.02 |
0.00 |
Following the successful acquisition of CF Global in February 2024, State Street has made significant investments in its teams and technology and now says it is in the final stages of integration. The deal further expands State Street’ s multi-asset execution capabilities across the Americas, Asia the UK and Europe.
In 2025, State Street rebranded its outsourced trading business to Partnered Trading which it feels more accurately represents the“ collaborative and strategic role we play in helping our clients achieve better outcomes when trading markets around the world”. This year State Street’ s overall score is exactly in line with the global average, sitting at Very Good( 6.02). Half of respondents have rated the provider as Excellent, with one client commenting,“ Overall, we are very happy with our trading relationship with State Street,” while another reported that the provider is“ great”. Similarly, all bar two categories were rated as Very Good, with Operations and Post-Trade
Chart 1
receiving the highest score( 6.26). Particularly interesting, as for one client“ the operations and posttrade trade processing was not part of our original decision to outsource trading, but it was a great unexpected benefit.” Another commented that“ having State Street take over the post-trade processing has been a huge benefit to our organisation”. For many of the respondents, it is the trade matching and trade settlement offered by State Street, which has resulted in many having rated this category so well. In fact, 58 % confirmed it was Excellent. The most improved category this year is Trade Decision Support( 6.17), which has seen a continuous upward trend since 2023. Increasing 28 basis points, State Street ' s TCA & Best Execution reports, along with its execution advice, consultancy and education, flow market colour, and bespoke stock news, are all regarded as positive factors in evaluating this provider.
42 // Outsourced Trading Handbook // 2025