US – Global Link, Boston based State Street Corporation’s internet and e-finance arm, has launched the Multi-Bank Global Trading Support Services (Multi-bank GTSS) system, which is intended to expand and consolidate its on-line trade confirmation matching and reporting service.

Equities and bonds are now part of a system that was originally implemented to provide information on foreign exchange dealings.

The service will allow investment managers instant online access to trading areas such as exchanges, brokers and financial organisations. The system provides over 400 asset managers worldwide market research and analysis alongside real-time trade execution services, whether or not electronically carried out.

State Street claims that the new system, by delivering results within 30 minutes, will vastly speed up and improve the accuracy of the hitherto used paper-based confirmation system that was error prone and drawn out.