Fri, Mar 29, 2024
A A A
Welcome Guest
Free Trial RSS pod
Get FREE trial access to our award winning publications
Industry Updates

Societe Generale Prime Services acquires stake in GMEX Group

Tuesday, February 17, 2015
Opalesque Industry Update - Societe Generale Prime Services – formerly Newedge – has announced that it has acquired a minority stake in Global Markets Exchange Group International LLP (GMEX Group).

Following the investment by Deutsche B๖rse Group AG, Societe Generale becomes the second minority investor in GMEX Group and plans to provide execution and clearing services for clients trading on the exchange.

“The GMEX Group offers genuinely new ways to trade Interest Rates via their unique and versatile Constant Maturity Futures product,” said David Escoffier, Deputy Head of Global Markets for Societe Generale Corporate & Investment Banking and CEO at Newedge. “That's exciting for our clients as they adapt to the new environment, for our industry, and for us as part of this venture. Acquiring a minority share reflects our commitment to driving innovation in the derivative markets, and we will continue to look positively at other similar initiatives based on innovation, quality and focused on delivery value to our clients."

“We welcome this investment from Societe Generale, which in conjunction with their earlier announcement to become an execution and clearing member of the GMEX exchange, emphasises the value of our proposition. We look forward to working with all our partners as we continue to position ourselves to meet the needs of the market across the investment management, banking and futures trading community,” said Hirander Misra, Chief Executive Officer and Co-Founder of GMEX Group.

GMEX Group is an exchange business focused on the launch of new products, including pioneering Interest Rate Swap Futures contracts, and derivatives indices, as well as emerging markets exchange business partnerships enabled by multi-asset trading technology.

PD

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Previous Opalesque Exclusives                                  
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. KKR raises $6.4bn for the largest pan-Asia infrastructure fund[more]

    Laxman Pai, Opalesque Asia: The New York-based global investment firm KKR has raised a record $6.4bn for its second Asia-focused infrastructure fund, underlining investors' continued appetite for private markets. According to a media release from the alternative assets manager, the figure top

  2. Bucking the trend, top hedge fund makes plans for a second SPAC[more]

    From Institutional Investor: SPACs aren't dead. At least not to the folks at Cormorant Asset Management. The life sciences firm, whose hedge fund topped its peers in 2023, is confident it will match the success of its first blank-check company. Last week, the life sciences and biopharma speciali

  3. Benefit Street Partners closes fifth fund on $4.7 billion[more]

    Bailey McCann, Opalesque New York: Benefit Street Partners has closed its fifth flagship direct lending vehicle, BSP Debt Fund V, with $4.7 billion of investable capital across the strategy. Benefit Street invests primarily in privately originated, floating rate, senior secured loans. The fun

  4. 4 hedge fund themes that are working in 2024[more]

    From The Street: A poor earnings report from Tesla (TSLA) has not hurt the indexes on Thursday. The decline in Tesla stock, which is losing its position in the Magnificent Seven pantheon, is more than offset by strong earnings from IBM (IBM) and ServiceNow (NOW) . In addition, the much higher-t

  5. Opalesque Exclusive: A global macro fund eyes opportunities in bonds[more]

    Bailey McCann, Opalesque New York for New Managers: Munich-based ThirdYear Capital rebounded in 2023, following a tough year for global macro. The firm's flagship ART Global Macro strategy finished the year up 1