State Street completes a $15b auction

Boston-based State Street Corp., which offers financial services to institutional investors, has completed a $15 billion securities lending auction for funds managed by its Paris affiliate.

State Street Global Advisors France completed the auction on behalf of nine French-domiciled Societes d'Investissement a Capital Variable and seven French-domiciled Fonds Communs de Placement.

The firm said it conducted the auction via EquiLend AuctionPort, a browser-based portfolio auction service that allows lenders to host and conduct blind and open auctions of portfolios on behalf of their customers. The service was launched by a group of global financial institutions, including State Street, in 2002.
(AP)