GlobalLink Digital, initially developed as a smart desktop for State Street's trading products, has evolved into a comprehensive, interoperable platform.
In the past year, GlobalLink Digital has effectively addressed the challenges introduced by the transitions toward T+1 settlement cycles (settlement in one day after execution). Recognizing the potential risks for real-money institutions, GlobalLink partnered with State Street's rules-based principal benchmark pricing service StreetFX to develop a comprehensive solution that provides full transparency in FX trade execution. This development has been critical in managing the shortened settlement cycle, offering clients greater confidence and control in their trading activities.
The platform has also strategically expanded its capabilities through innovative partnerships. Notably, in Q2 2024, it collaborated with a technology provider specializing in multilingual AI tools for global news analysis. This partnership has enhanced the decision-making process for users across 55 countries, enabling them to analyze and act on global news with greater precision.
Other improvements included a redefined user interface to improve onboarding and a new trade flow visibility feature. The latter allowed users to tailor their platform view according to their preferences. For example, traders could focus on their main trading platforms and market news, while simultaneously keeping smaller, unobtrusive views of settlement platforms to monitor trade settlement progress. This ensures a comprehensive and streamlined trading experience.
These developments have led to an impressive 105% increase in client adoption over the past year. Regional growth has been particularly strong, with the Americas experiencing a 60% increase. Growth was even higher in EMEA and Apac, where the platform experienced a 200% and 500% growth respectively.
“Our open platform unifies the desktop experience to provide easy-to-deploy and customizable trading and workflow solutions, allowing client trades to flow seamlessly within one interface,” says State Street’s senior managing director Greg Fortuna.
“Our solution allows for best-in-class services, including our suite of trading applications, as well as single sign on to market-leading partners and clients’ internal applications.”