State Street announces definitive agreement to acquire CF Global Trading

State Street announced it has entered into a definitive agreement to acquire CF Global Trading, a global firm specializing in outsourced trading on an agency basis for a variety of asset classes including equities, listed derivatives and fixed income. The transaction is expected to be completed by the end of 2023, subject to customary closing conditions. Financial terms are not being disclosed. For more than 20 years CF Global Trading and their established team of traders has helped asset managers extend global trading infrastructure, improve access to liquidity, streamline workflow and reduce trading and infrastructure costs. CF Global Trading has expertise across multiple asset classes and will have execution desks in Hong Kong, London, New York and Lisbon and this deal will further expand State Street’s current outsourced trading, meaning clients can expect the ability to provide outsourced trading services to new clients and markets. Importantly, the combination of the two firms will allow State Street to offer a complete global trading solution as part of the firm’s State Street AlphaSM front-to back platform.