Societe Generale Prime Services Launches Portfolio Margining For Clients Trading With CME Group
NEW YORK and LONDON, May 18, 2015 /PRNewswire/ -- Societe Generale Prime Services, formerly Newedge, today announced it now offers CME Group portfolio margining for its clients. This enhancement enables its clients to treat cleared IRS contracts and exchange traded futures contracts as a single portfolio, resulting in reduced margins when trading CME Group products.
"This important upgrade to our clearing business allows our clients to optimize their cost of collateral as well as take advantage of capital efficiencies," said Nicholas Gionfriddo, Americas Head of OTC Clearing Sales for Societe Generale Prime Services. "This investment also further affirms our commitment to OTC Client Clearing following our recent service enhancements introducing clearing for our FX NDF and CDS clients."
At CME Group, a single portfolio of cleared IRS and futures contracts is created by booking a client's listed futures contracts to their IRS LSOC account. Societe Generale has implemented CME Group's Optimizer toolkit to facilitate the portfolio margin process for clients in order to allow them to realize these margin efficiencies, with no additional fees charged for the service.
"We continue to offer the most capital efficient clearing solution out there and are pleased to work with a leading European bank to expand this offering," said Sunil Cutinho, President CME Clearing.
Societe Generale Prime Services
Societe Generale Prime Services, formerly Newedge, is part of the Global Markets' division of Societe Generale Corporate & Investment Banking, the bank's Prime Brokerage business offering a unique combination of execution, clearing, custody and financing services. It is truly multi-asset and multi-instrument across Listed Derivatives, Equities (Cash/synthetic), FX, Fixed Income and OTC Cleared. As a firm offering world leading derivatives brokerage services, unrivalled access to 125+ markets and exchange venues, Societe Generale Prime Services provides its clients an extensive pool of liquidity and tailored.
Societe Generale
Societe Generale is one of the largest European financial services groups. Based on a diversified universal banking model, the Group combines financial solidity with a strategy of sustainable growth, and aims to be the reference for relationship banking, recognised on its markets, close to clients, chosen for the quality and commitment of its teams.
Societe Generale has been playing a vital role in the economy for 150 years. With more than 148,000 employees, based in 76 countries, we accompany 32 million clients throughout the world on a daily basis. Societe Generale's teams offer advice and services to individual, corporate and institutional customers in three core businesses:
- Retail banking in France with the Societe Generale branch network, Credit du Nord and Boursorama, offering a comprehensive range of multichannel financial services on the leading edge of digital innovation;
- International retail banking, financial services and insurance with a presence in emerging economies and leading specialised businesses;
- Corporate and investment banking, private banking, asset management and securities services, with recognised expertise, top international rankings and integrated solutions.
Societe Generale is included in the main socially responsible investment indices: FTSE4Good (Global and Europe), Euronext Vigeo (Global, Europe, Eurozone and France), ESI Excellence (Europe) from Ethibel and 4 of the STOXX ESG Leaders indices.
For more information, you can follow us on twitter @societegenerale or visit our website www.societegenerale.com
Societe Generale Corporate & Investment Banking
At the core of Societe Generale's universal banking business model, the Corporate & Investment Bank is a well-diversified and leading player with nearly 10 500 professionals present in more than 31 countries across Europe, the Americas and Asia-Pacific.
Standing by its clients across sectors, the Corporate & Investment Bank tailors solutions for them by capitalising on its worldwide expertise in investment banking, global finance, and global markets.
- For Corporates, Financial Institutions and Public Sector: providing a global advisory approach (M&A, debt, equity transaction, capital structure, and asset & liability management), as well as quality capital raising solutions across the debt and equity spectrum, optimised financing and expert risk management responses notably in the realm of foreign exchange and rates derivatives.
- For Investors: offering reliable and sound investment opportunities and risk management solutions through its integrated global markets platform delivering seamless access to markets (equity, rates, credit, currencies, commodities and derivatives), as well as advice and solid financial engineering, quality of execution – both Agency and principal-, forward-looking research across asset classes, an industry-leading clearing proposition and prime brokerage services.
SOCIETE GENERALE
SGCIB
75886 PARIS CEDEX 18
www.sgcib.com
A FRENCH CORPORATION WITH SHARE CAPITAL OF
EUR 1 006 489 617.50
552 120 222 RCS PARIS
SOURCE Societe Generale
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