State Street Corp., the Boston-based asset manager and securities custodian, has formed an alliance with Emerging Markets Finance LLC, to provide currency management and research to investors.

The two companies noted in a release that currency management has become increasingly important as a result of rising foreign exchange volatility, especially in emerging markets.

A joint program by the two companies will monitor daily portfolio flows in and out of 46 countries and their implications for future flows, State Street said. Boston-based EMF's clients include major investment management firms, multinational corporations, and financial intermediaries.

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