The move was driven by the firm’s clients asking for their trades to be cleared within the European Union.
Societe Generale Corporate & Investment Banking announced this Monday that it will offer a clearing capability for its clients on derivatives and over-the-counter (OTC) products in the European Union (EU) by the end of this year.
According to the statement, the French multinational investment bank plans to open a financial hub in Paris, a move which seems to be a direct result of Brexit. By the end of this year, the Societe Generale’s Prime Services team of experts will be able to clear client trades directly from its platform in Paris.
The new unit will be joining several clearing houses in France’s capital. These include the London Stock Exchange’s LCH SA in Paris and Deutsche Boerse’s Eurex Clearing in Frankfurt.
According to a Societe Generale spokeswoman speaking to Reuters, the move was driven by the firm’s clients asking for their trades to be cleared within the EU. However, LCH SA will still be used for clearing credit default swaps, while interest rate swaps will be cleared by Eurex, the spokeswoman noted.
Commenting on the announcement, Christophe Lattuada, Global Head of Prime Services said: “Societe Generale works with clients daily on listed derivatives and OTC clearing by adapting its offering to their changing needs within the current uncertain regulatory environment. Our clients benefit from our long-standing presence in Paris and the well-established team delivering best in class client service.”
Societe Generale Bolsters Prime Services Team
Alongside the offering of clearing capabilities, Societe Generale has also been bolstering its Prime Services sales team in Continental Europe. This was achieved by the appointment of two senior members - Stéphane Eglizeau and Ebru Ciaravino.
Eglizeau joined Societe Generale’s Prime Services team as the Global Head of Sales for Professional Trading Groups. Prior to working with the firm, he was the Chief Executive Officer for the Asia Pacific region for ABN Amro Clearing Bank.
Ciaravino, on the other hand, joined the company’s team in Frankfurt. There, he is part of the Prime Services sales force. Namely, he is in charge of German and Austrian clients. This is largely due to his experience at Deutsche Boerse/Eurex Group, where he was employed for more than 15 years.
“This reinforcement of the Prime Services offering is also part of the strategic plan developed by the Bank to build on its global markets top positioning in Europe,” added Frank Drouet, Global Head of Global Markets.
Societe Generale Corporate & Investment Banking announced this Monday that it will offer a clearing capability for its clients on derivatives and over-the-counter (OTC) products in the European Union (EU) by the end of this year.
According to the statement, the French multinational investment bank plans to open a financial hub in Paris, a move which seems to be a direct result of Brexit. By the end of this year, the Societe Generale’s Prime Services team of experts will be able to clear client trades directly from its platform in Paris.
The new unit will be joining several clearing houses in France’s capital. These include the London Stock Exchange’s LCH SA in Paris and Deutsche Boerse’s Eurex Clearing in Frankfurt.
According to a Societe Generale spokeswoman speaking to Reuters, the move was driven by the firm’s clients asking for their trades to be cleared within the EU. However, LCH SA will still be used for clearing credit default swaps, while interest rate swaps will be cleared by Eurex, the spokeswoman noted.
Commenting on the announcement, Christophe Lattuada, Global Head of Prime Services said: “Societe Generale works with clients daily on listed derivatives and OTC clearing by adapting its offering to their changing needs within the current uncertain regulatory environment. Our clients benefit from our long-standing presence in Paris and the well-established team delivering best in class client service.”
Societe Generale Bolsters Prime Services Team
Alongside the offering of clearing capabilities, Societe Generale has also been bolstering its Prime Services sales team in Continental Europe. This was achieved by the appointment of two senior members - Stéphane Eglizeau and Ebru Ciaravino.
Eglizeau joined Societe Generale’s Prime Services team as the Global Head of Sales for Professional Trading Groups. Prior to working with the firm, he was the Chief Executive Officer for the Asia Pacific region for ABN Amro Clearing Bank.
Ciaravino, on the other hand, joined the company’s team in Frankfurt. There, he is part of the Prime Services sales force. Namely, he is in charge of German and Austrian clients. This is largely due to his experience at Deutsche Boerse/Eurex Group, where he was employed for more than 15 years.
“This reinforcement of the Prime Services offering is also part of the strategic plan developed by the Bank to build on its global markets top positioning in Europe,” added Frank Drouet, Global Head of Global Markets.
Deutsche Bank Joins Monetary Authority of Singapore's Global Asset Tokenization Initiative
Hannelé De Necker, CEO, IFX Brokers | FMAS:24
Hannelé De Necker, CEO, IFX Brokers | FMAS:24
1 week to go until FMAS:24 kicks off and we couldn't skip our interviews with some of this year's sponsors 🤩 Starting off strong with Hannelé De Necker, CEO OF IFX Brokers.
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1 week to go until FMAS:24 kicks off and we couldn't skip our interviews with some of this year's sponsors 🤩 Starting off strong with Hannelé De Necker, CEO OF IFX Brokers.
See you there!
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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FMAS:24 | Sneak Peak
FMAS:24 | Sneak Peak
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
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#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
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#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa