2026 · Evidence audit

State Street Global Markets — institutional liquidity provider

State Street Global Markets operates as the trading arm of State Street Corporation, established in 1792. It holds SEC and FINRA licenses as a Tier-1 broker-dealer. Self-measured claims regarding FXConnect volume and liquidity sourcing metrics should be scrutinized for accuracy.

State Street Corporation (trading arm State Street Global Markets; US broker-dealer State Street Global Markets, LLC) · Boston, Massachusetts, USA · last re-checked 2026-09 · evidence score 95/100

Licence, read on the register

Regulator	Licence number	Jurisdiction	Tier	Source
SEC/FINRA (BrokerCheck, State Street Global Markets, LLC)	8-69862	US	tier-1	open source ↗
SEC (EDGAR, State Street Corporation)	000093751	US	tier-1	open source ↗

Tier classification follows the same scale as the retail register: tier-1 = FCA/ASIC/CFTC-class supervision, tier-2 = CySEC/FSC-Mauritius/MFSA-class, tier-3 = offshore registration. A tier-2 licence is genuine supervision without an investor compensation scheme — never misread it as tier-1 protection.

What the firm commits to

Claims specific enough to be falsified — and the ones that remain the venue's own measurement.

Testable claims

State Street Global Markets is the investment research and trading arm of State Street Corporation (NYSE: STT) (investors.statestreet.com press release, 2004)
FXConnect multi-bank electronic FX trading system surpassed $30 billion in daily trading volume for the first time in Dec 2004 (investors.statestreet.com)
FX Connect offers access to more than 300 currency pairs for spot and up to 70 pairs for forwards and swaps, integrated with TradeNeXus (statestreet.com FX Connect product sheet PDF)
State Street Markets provides advanced trading, financing, foreign exchange and research capabilities (statestreet.com home page)

Claims we cannot verify from outside

FXConnect volume beyond the 2004 disclosure (dated, self-measured)
Liquidity sourcing metrics in ECB FX working-group presentation (aggregate, self-measured)

Perimeter and coverage

Asset classes	Venues	Connectivity	Clients accepted	Explicitly refused
FX spot, FX forwards, FX swaps, NDFs	FX Connect (multi-bank platform), EBS, Reuters, CLS	FIX, FX Connect, TradeNeXus post-trade integration	Institutional investors, Asset managers, Pension funds, Corporates, Banks	Retail clients

A firm that publishes its own negative space — who it refuses, where it is not licensed — is materially easier to diligence than one that doesn't. The refusal list is treated here as a disclosure, not a defect.