In 2007, Boston-based State Street Corp. paid $564 million in cash for Currenex, a London-based online foreign exchange platform, hoping to get in on the enormous growth in the electronic forex marketplace, which had become increasingly dominated by hedge funds. “That was a great opportunity for us not only to pick up a synergistic competitor but also to obtain some real technology that we would have otherwise had to build out on our own,” says Joseph Antonellis, head of investor services in North America for State Street....
