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State Street - Definition and Overview |
| Related Words: Alley, Alleyway, Arterial, Artery, Autoroute, Avenue, Boulevard, Bypass, Byway, Causeway, Causey, Circle, Concourse, Court |
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State Street Corporation (NYSE: STT (http://www.nyse.com/about/listed/lcddata.html?ticker=STT)) is a bank holding company based in Boston, Massachusetts. It is one of the world's leading specialists in serving institutional investors and traded on the New York State Exchange under the ticker symbol STT.
State Street provides a full range of products and services for portfolios of investment assets. State Street focuses its services on institutional investors and investment management. Its customers include mutual funds and other collective investment funds, corporate and public pension funds, corporations, unions and not-for-profit organizations.
State Street employs over 17,000 people worldwide, more than one third of whom work in IT. State Street's GlobalLink intranet is used by financial institutions all over the world to transfer funds and track capital flows.
State Street Corporation has been in business since 1792 and is one of the oldest companies in the United States.
State Street Bank & Trust Co. v. Signature Financial Group, Inc. is the landmark case in which the Washington, DC Court of Appeals ruled (July 23, 1998) that a computer algorithm can be patented to the extent that it produces "a useful, concrete and tangible result".
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