Societe Generale Securities Services (SGSS) has extended its clearing licence with SIX x-clear the clearing entity of SIX Securities Services and thus becomes a "General Clearing Member" on UBS MTF, the multilateral trading facility.
SGSS continues to expand its ability to offer its clients, made up of broker dealers, investment banks, and traders, improved access to the growing number of international multiple exchanges and trading platforms. This extension of SGSS' clearing offering allows its clients to increase their efficiency and reduce costs by optimizing their risk management, enabling them to carry out single margin calls and bookings at a single point of entry. By using this single entry point, clients can manage their clearing, settlement and custody activities across a greater number of markets around the world.
Tomas Kindler, Head of Clearing Relations at SIX x-clear, commented: "We are very pleased to extend the business relation with SGSS and welcome them as a new clearer for UBS MTF. This move underpins the attractiveness of our offering in a contested environment, driven by our robust, real-time risk management and highly competitive fee incentive."
Dr. Robert Barnes, CEO of UBS MTF, said: "Fostering innovation and choice is part of UBS MTF's core mission. We welcome opportunities that provide UBS MTF participants with a wider selection of clearing members so they might consolidate clearing from a more extensive range of markets."
This new service reflects SGSS' commitment to accompanying clients through the increasing complexity of market infrastructures by providing a high quality offering linked to a recognised experience in clearing services.