State Street Global Exchange Joins LCH.Clearnet’s SwapClear

  State Street Global Exchange Joins LCH.Clearnet’s SwapClear

Business Wire

LONDON & BOSTON -- October 24, 2013

State Street Global Exchange announced today that it is now clearing
over-the-counter interest rate swaps using LCH.Clearnet Ltd.’s, SwapClear
service. The announcement comes shortly after SwapEx^SM, State Street’s
electronic trading platform for interest rate and FX derivatives, was
provisionally registered as a swap execution facility (SEF) by the CFTC in
September. SwapEx began trading on October 8, 2013.

“Our SwapClear membership gives our global client base access to the world’s
largest clearing house for interest rate swaps with deep liquidity pools and
superior risk management,” said Martine Bond, head of trading and clearing at
State Street Global Exchange. “As an entire industry aligns itself with the
new regulatory environment, having comprehensive clearing and servicing
solutions ensures that our clients are efficient across the entire derivatives
trade lifecycle.”

“State Street is an important addition to SwapClear’s global membership
roster” said Daniel Maguire, head of SwapClear US at LCH.Clearnet. “Buy-side
clients will benefit from the addition of a global industry leader to an
already strong pool of direct clearing members and liquidity providers.”

SwapClear membership expands State Street Global Exchange’s existing
end-to-end derivatives solution, DerivOne^SM, which includes execution,
clearing, servicing, collateral management, valuation, and risk and analytics
for over the counter and exchange traded derivatives. State Street has been a
member of CME Group since 2010 and is actively pursuing other clearing
memberships.

State Street Global Exchange delivers proprietary data, insights, analytics
and trading solutions to address clients’ needs to make better investment
decisions, generate superior returns and effectively manage data and risk.
LCH.Clearnet is the largest clearer of interest rate swaps, clearing over 95%
of the world's cleared interest rate swaps. LCH.Clearnet launched SwapClear in
1999, and it has been a CFTC-regulated derivatives clearing organization since
2001.

About LCH.Clearnet

The LCH.Clearnet Group is a leading multi-asset class and multi-national
clearing house, serving major exchanges and platforms as well as a range of
OTC markets. LCH.Clearnet’s world-class risk management framework provides
exceptional levels of protection to international markets, as has been proven
through the management of recent defaults. As demand for robust clearing
services continues to grow, LCH.Clearnet is committed to achieving the highest
standards of risk management across all asset classes cleared. LCH.Clearnet is
majority owned by London Stock Exchange Group (LSE.L), a diversified
international exchange group that sits at the heart of the world's financial
community.

For more information on LCH.Clearnet visit www.lchclearnet.com/media_centre

About State Street Corporation

State Street Corporation (NYSE: STT) is one of the world's leading providers
of financial services to institutional investors including investment
servicing, investment management and investment research and trading. With $26
trillion in assets under custody and administration and $2.2 trillion in
assets under management* at September 30, 2013, State Street operates in more
than 100 geographic markets worldwide, including the U.S., Canada, Europe, the
Middle East and Asia. For more information, visit State Street’s web site at
www.statestreet.com.

* This AUM includes the assets of the SPDR Gold Trust (approx. $39 billion as
of September 30, 2013), for which State Street Global Markets, LLC, an
affiliate of State Street Global Advisors, serves as the marketing agent.

Contact:

State Street Corporation
Anne McNally, +1 617-664-8576
www.statestreet.com
@StateStreet