State Street unveils OTC servicing platform

State Street Corporation has launched an over-the-counter (OTC) derivatives servicing platform, OTC Hub. According to Boston-based State Street, the hub is live with one of its long-time clients, PIMCO. OTC Hub is a global, end-to-end servicing platform designed to automate a number of stages in derivatives processing including customer reporting, electronic trade flow, and the reconciliation of positions and cashflows between the middle and back offices. OTC Hub will reconcile data from ind