Risk 25 firms of the future: State Street
Boston-based State Street traces its history to 1792, less than a decade after the conclusion of the American Revolution. Today, the bank is hoping to profit by clinging to the coat-tails of another revolution: the overhaul of the over-the-counter derivatives market.
With the Dodd-Frank Act demanding all standardised OTC derivatives be traded on swap execution facilities (Sefs) and cleared via central counterparties (CCPs), a market dominated by a handful of global investment banks will be blown
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