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Treasury Monitoring Trading Costs

PROVIDENCE, R.I. The State Investment Commission at its April meeting heard a presentation from State Street Global Advisors (SSgA), the state's equity investment manager, about trading of the portfolio's equity allocation and specifically the portfolio's exposure to high frequency trading.

About half of the state's $8 billion pension investment portfolio is invested in low-cost equity indexes managed by SSgA. Overseeing $2.7 trillion in assets, State Street deploys resources and expertise to ensure trades happen at competitive prices and to safeguard the state's portfolio against predatory high frequency trading. SSgA's trading professionals dynamically allocate trades to receive best execution, adjusting strategies based on market conditions. They also constantly measure trading costs and seek both to improve costs and transparency.

The SIC and Treasury's investment team, as part of its ongoing management of the investment portfolio, will continue to monitor and analyze this issue for potential impact.

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Related links

Department or agency: RI Office of the General Treasurer

Online: http://www.treasury.ri.gov/

Release date: 04-24-2014

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